Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Empower Advisory Group LLC

Empower Advisory Group LLC boosted its position in Lam Research Co. (NASDAQ:LRCX) by 874.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,282 shares of the semiconductor company’s stock after buying an additional 28,072 shares during the quarter. Empower Advisory Group LLC’s holdings in Lam Research were worth $2,259,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LRCX. Commonwealth Equity Services LLC lifted its holdings in Lam Research by 8.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 42,489 shares of the semiconductor company’s stock worth $34,675,000 after buying an additional 3,283 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Lam Research by 39.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,338 shares of the semiconductor company’s stock worth $15,781,000 after buying an additional 5,484 shares in the last quarter. Foundations Investment Advisors LLC lifted its holdings in Lam Research by 5.6% in the 3rd quarter. Foundations Investment Advisors LLC now owns 5,882 shares of the semiconductor company’s stock worth $4,800,000 after buying an additional 313 shares in the last quarter. Eastern Bank lifted its holdings in Lam Research by 54.9% in the 3rd quarter. Eastern Bank now owns 522 shares of the semiconductor company’s stock worth $426,000 after buying an additional 185 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in Lam Research by 8.1% in the 3rd quarter. Private Advisor Group LLC now owns 6,374 shares of the semiconductor company’s stock worth $5,201,000 after buying an additional 480 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Barclays dropped their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. BNP Paribas raised shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. 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 research report on Thursday, October 24th. Morgan Stanley boosted their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a research report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $95.72.

Lam Research Price Performance

NASDAQ LRCX opened at $86.52 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 current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock has a market cap of $111.06 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. The company has a 50-day moving average price of $77.58 and a two-hundred day moving average price of $77.79.

Lam Research (NASDAQ:LRCX) last posted 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 net margin of 26.49% and a return on equity of 51.86%. Analysts forecast that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

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.