Tennessee Valley Asset Management Partners Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Tennessee Valley Asset Management Partners raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 900.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,344 shares of the semiconductor company’s stock after buying an additional 3,910 shares during the period. Tennessee Valley Asset Management Partners’ holdings in Lam Research were worth $314,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Lighthouse Investment Partners LLC purchased a new position in Lam Research in the second quarter valued at approximately $1,597,000. Scientech Research LLC boosted its holdings in shares of Lam Research by 82.8% in the 2nd quarter. Scientech Research LLC now owns 746 shares of the semiconductor company’s stock valued at $794,000 after buying an additional 338 shares in the last quarter. Creative Planning grew its position in shares of Lam Research by 1.4% in the 2nd quarter. Creative Planning now owns 46,231 shares of the semiconductor company’s stock valued at $49,229,000 after buying an additional 639 shares during the last quarter. Silver Lake Advisory LLC acquired a new stake in Lam Research during the 2nd quarter worth $261,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Lam Research by 0.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 49,056 shares of the semiconductor company’s stock valued at $52,246,000 after acquiring an additional 433 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. B. Riley cut their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Lam Research in a research report on Thursday, October 24th. Barclays decreased their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Wells Fargo & Company cut their target price on shares of Lam Research from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, The Goldman Sachs Group decreased their price target on shares of 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 equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $95.77.

Lam Research Trading Down 1.9 %

Shares of LRCX stock opened at $79.68 on Monday. The business’s fifty day moving average price is $75.43 and its 200 day moving average price is $79.86. The firm has a market capitalization of $102.52 billion, a PE ratio of 25.75, a P/E/G ratio of 1.53 and a beta of 1.45. 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 Co. has a 1-year low of $68.87 and a 1-year high of $113.00.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.15%. Lam Research’s dividend payout ratio is presently 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.