Gries Financial LLC Acquires 9,916 Shares of Lam Research Co. (NASDAQ:LRCX)

Gries Financial LLC grew its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 886.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,034 shares of the semiconductor company’s stock after buying an additional 9,916 shares during the period. Gries Financial LLC’s holdings in Lam Research were worth $797,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in shares of Lam Research by 1,394.7% in the 3rd 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 period. State Street Corp lifted its position in shares of Lam Research by 1.6% during the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after purchasing an additional 94,086 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 in the last quarter. Swedbank AB raised its holdings in Lam Research by 1,488.8% in the fourth quarter. Swedbank AB now owns 3,069,002 shares of the semiconductor company’s stock worth $221,674,000 after purchasing an additional 2,875,843 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Lam Research in the fourth quarter worth about $175,652,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LRCX. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Morgan Stanley upped their target price on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Barclays reduced their price objective on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Wells Fargo & Company reduced their price objective on Lam Research from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Finally, B. Riley reduced their price objective 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. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $96.07.

Lam Research Stock Up 0.9 %

Shares of Lam Research stock opened at $75.15 on Thursday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The stock has a market capitalization of $96.69 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.53 and a beta of 1.45. The business’s 50 day simple moving average is $75.62 and its 200-day simple moving average is $79.15. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. Equities research analysts forecast that Lam Research Co. will post 3.51 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s payout ratio is currently 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.