Carderock Capital Management Inc. Boosts Holdings in Lam Research Co. (NASDAQ:LRCX)

Carderock Capital Management Inc. grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 853.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,656 shares of the semiconductor company’s stock after purchasing an additional 95,464 shares during the period. Lam Research makes up 1.9% of Carderock Capital Management Inc.’s portfolio, making the stock its 26th biggest holding. Carderock Capital Management Inc.’s holdings in Lam Research were worth $7,704,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities analysts recently commented on LRCX shares. B. Riley reduced their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Mizuho reduced their price objective on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company lowered their target price 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. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target on the stock in a research report on Friday. Finally, The Goldman Sachs Group lowered their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Nine 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.77.

Lam Research Stock Performance

Shares of LRCX opened at $80.30 on Friday. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company has a 50-day simple moving average of $74.68 and a two-hundred day simple moving average of $80.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm has a market capitalization of $103.32 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last released its quarterly 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 company had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The firm’s revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the company posted $6.85 earnings per share. On average, analysts anticipate that Lam Research Co. will post 3.51 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a yield of 1.15%. Lam Research’s dividend payout ratio (DPR) 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.