Thurston Springer Miller Herd & Titak Inc. Increases Position in Lam Research Co. (NASDAQ:LRCX)

Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1,281.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,765 shares of the semiconductor company’s stock after buying an additional 9,058 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Lam Research were worth $705,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LRCX. Quarry LP increased its stake in Lam Research by 175.0% in the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock valued at $94,000 after buying an additional 56 shares during the period. NCP Inc. purchased a new stake in shares of Lam Research in the second quarter valued at about $213,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Lam Research by 2,400.0% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after acquiring an additional 192 shares during the period. Mill Creek Capital Advisors LLC purchased a new position in Lam Research during the second quarter worth about $226,000. Finally, MQS Management LLC acquired a new stake in Lam Research in the second quarter valued at about $228,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several recent analyst reports. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. B. Riley dropped their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Wells Fargo & Company cut their price target on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average price target of $96.59.

Lam Research Stock Performance

NASDAQ LRCX opened at $76.15 on Thursday. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The business has a fifty day moving average of $74.70 and a 200-day moving average of $81.22. The stock has a market cap of $97.98 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last announced its 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. The firm had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.85 EPS. As a group, analysts predict that Lam Research Co. will post 3.5 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were paid a $0.23 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.21%. Lam Research’s payout ratio is currently 29.77%.

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.