Viking Fund Management LLC Raises Position in Lam Research Co. (NASDAQ:LRCX)

Viking Fund Management LLC lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 970.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 107,000 shares of the semiconductor company’s stock after buying an additional 97,000 shares during the quarter. Viking Fund Management LLC’s holdings in Lam Research were worth $7,729,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quarry LP raised its stake in shares of Lam Research by 175.0% during the second quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock valued at $94,000 after purchasing an additional 56 shares during the period. NCP Inc. purchased a new position in shares of Lam Research in the second quarter valued at $213,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in 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 valued at $163,000 after purchasing an additional 192 shares in the last quarter. Mill Creek Capital Advisors LLC purchased a new position in Lam Research in the 2nd quarter valued at about $226,000. Finally, Advisory Alpha LLC acquired a new stake in shares of Lam Research during the second quarter valued at about $256,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LRCX shares. Wells Fargo & Company cut their target price on Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Morgan Stanley upped their target price on shares of Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Lam Research in a research note on Thursday, October 24th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, The Goldman Sachs Group reduced their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.77.

Lam Research Stock Up 1.5 %

LRCX opened at $81.50 on Wednesday. The stock’s 50 day moving average price is $74.92 and its 200 day moving average price is $80.24. 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 stock has a market cap of $104.87 billion, a P/E ratio of 26.34, a P/E/G ratio of 1.48 and a beta of 1.45. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00.

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

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were paid a dividend of $0.23 per share. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.13%. Lam Research’s payout ratio is 29.74%.

Lam Research Company 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.