Cohen Klingenstein LLC Raises Stock Position in Lam Research Co. (NASDAQ:LRCX)

Cohen Klingenstein LLC boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 15,000 shares of the semiconductor company’s stock after purchasing an additional 13,500 shares during the period. Cohen Klingenstein LLC’s holdings in Lam Research were worth $1,083,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LRCX. Quarry LP grew its holdings in Lam Research by 175.0% during the second quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after acquiring an additional 56 shares during the period. NCP Inc. purchased a new stake in Lam Research in the 2nd quarter worth approximately $213,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Lam Research by 2,400.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 192 shares during the period. Mill Creek Capital Advisors LLC purchased a new position in shares of Lam Research during the 2nd quarter valued at approximately $226,000. Finally, MQS Management LLC acquired a new position in shares of Lam Research in the 2nd quarter valued at $228,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on LRCX. Morgan Stanley raised their price target on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Mizuho cut their price target on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Wells Fargo & Company cut their price objective on Lam Research from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, The Goldman Sachs Group reduced their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.77.

Lam Research Price Performance

LRCX stock opened at $80.30 on Friday. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm has a market capitalization of $103.32 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45. The business has a 50 day simple moving average of $74.68 and a 200-day simple moving average of $80.99.

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

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.15%. Lam Research’s payout ratio 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.