SteelPeak Wealth LLC Increases Stake in Lam Research Co. (NASDAQ:LRCX)

SteelPeak Wealth LLC lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 920.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 41,886 shares of the semiconductor company’s stock after purchasing an additional 37,783 shares during the period. SteelPeak Wealth LLC’s holdings in Lam Research were worth $3,036,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. State Street Corp grew its holdings in Lam Research by 1.6% in the 3rd quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after acquiring an additional 94,086 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Lam Research by 2.1% in the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock valued at $2,539,413,000 after acquiring an additional 64,053 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Lam Research during the fourth quarter valued at about $175,652,000. Finally, Fisher Asset Management LLC boosted its holdings in shares of Lam Research by 0.6% during the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock worth $1,527,273,000 after purchasing an additional 11,093 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Cantor Fitzgerald reiterated 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 reduced their price target on shares of 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. The Goldman Sachs Group lowered their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Sanford C. Bernstein reduced their target price on Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Finally, Morgan Stanley raised their target price on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.77.

Lam Research Stock Performance

Shares of LRCX opened at $74.51 on Wednesday. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The stock has a market cap of $95.87 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 1.53 and a beta of 1.45. The business has a 50-day simple moving average of $75.53 and a two-hundred day simple moving average of $79.37.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were given a $0.23 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.23%. Lam Research’s payout ratio is 29.74%.

About Lam Research

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.