Bleakley Financial Group LLC Acquires 22,046 Shares of Lam Research Co. (NASDAQ:LRCX)

Bleakley Financial Group LLC raised its holdings in Lam Research Co. (NASDAQ:LRCX) by 864.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,596 shares of the semiconductor company’s stock after purchasing an additional 22,046 shares during the period. Bleakley Financial Group LLC’s holdings in Lam Research were worth $1,777,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in Lam Research by 1,394.7% during 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 acquiring an additional 15,005,178 shares during the period. Swedbank AB increased its position in shares of 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 during the period. Assenagon Asset Management S.A. acquired a new position in Lam Research in the fourth quarter valued at about $175,652,000. KBC Group NV lifted its position in Lam Research by 904.7% during the fourth quarter. KBC Group NV now owns 1,371,062 shares of the semiconductor company’s stock worth $99,031,000 after purchasing an additional 1,234,595 shares during the period. Finally, abrdn plc grew its stake in Lam Research by 836.1% during the fourth quarter. abrdn plc now owns 1,315,038 shares of the semiconductor company’s stock worth $94,729,000 after buying an additional 1,174,563 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

Shares of LRCX opened at $82.33 on Friday. The business has a 50-day moving average of $76.75 and a 200-day moving average of $78.29. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a market capitalization of $105.93 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 1.34 and a beta of 1.46. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (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%. As a group, equities research analysts anticipate that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.12%. Lam Research’s payout ratio is 27.95%.

Analyst Ratings Changes

LRCX has been the subject of a number of recent analyst reports. BNP Paribas raised shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. 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 report on Thursday, December 5th. Cantor Fitzgerald raised Lam Research from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $95.00 to $100.00 in a report on Thursday, January 30th. KeyCorp raised Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a research note on Friday, January 17th. Finally, StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.72.

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.