Perpetual Ltd Acquires 7,672 Shares of Lam Research Co. (NASDAQ:LRCX)

Perpetual Ltd raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 501.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,202 shares of the semiconductor company’s stock after purchasing an additional 7,672 shares during the period. Perpetual Ltd’s holdings in Lam Research were worth $665,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LRCX. Parisi Gray Wealth Management raised its position in shares of Lam Research by 652.9% during the fourth quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after acquiring an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY bought a new position in Lam Research during the 4th quarter worth approximately $815,000. Jennison Associates LLC lifted its position in shares of Lam Research by 20.0% in the 3rd quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock worth $194,451,000 after purchasing an additional 39,725 shares during the period. Creative Planning boosted its stake in shares of Lam Research by 2.5% in the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after purchasing an additional 1,146 shares during the last quarter. Finally, Vest Financial LLC increased its position in shares of Lam Research by 68.7% during the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after buying an additional 14,658 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

Shares of LRCX stock opened at $83.25 on Thursday. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company has a market cap of $107.12 billion, a P/E ratio of 26.91, a P/E/G ratio of 1.48 and a beta of 1.45. The firm has a 50-day moving average of $74.92 and a 200-day moving average of $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.

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

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were given 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 1.11%. Lam Research’s dividend payout ratio is currently 29.74%.

Analyst Upgrades and Downgrades

A number of analysts have commented on LRCX shares. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. BNP Paribas raised Lam Research to a “hold” rating in a research note on Thursday, October 24th. B. Riley decreased their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group cut their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $95.77.

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.