Janney Capital Management LLC Invests $513,000 in Lam Research Co. (NASDAQ:LRCX)

Janney Capital Management LLC bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,097 shares of the semiconductor company’s stock, valued at approximately $513,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its holdings in shares of Lam Research by 1,394.7% in the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after buying an additional 15,005,178 shares during the period. State Street Corp lifted its holdings in Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock valued at $4,817,113,000 after acquiring an additional 94,086 shares during the period. Geode Capital Management LLC boosted its position in Lam Research by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after purchasing an additional 64,053 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Lam Research in the 4th quarter worth approximately $175,652,000. Finally, Fisher Asset Management LLC grew its stake in shares of Lam Research by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock worth $1,527,273,000 after purchasing an additional 11,093 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LRCX shares. Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price on the stock in a research report on Friday, January 17th. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. BNP Paribas raised Lam Research to a “hold” rating in a report on Thursday, October 24th. Finally, Morgan Stanley upped their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.77.

Lam Research Stock Performance

Shares of Lam Research stock opened at $83.25 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The business’s 50 day moving average price is $74.92 and its 200 day moving average price is $80.24. The company has a market cap of $107.12 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 1.50 and a beta of 1.45. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the previous year, the company posted $6.85 EPS. The company’s revenue was up 19.7% compared to the same quarter last year. On average, research analysts predict that Lam Research Co. will post 3.51 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.11%. Lam Research’s dividend payout ratio (DPR) is 29.74%.

Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.