Naples Global Advisors LLC Purchases 73,275 Shares of Lam Research Co. (NASDAQ:LRCX)

Naples Global Advisors LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 965.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,863 shares of the semiconductor company’s stock after acquiring an additional 73,275 shares during the quarter. Naples Global Advisors LLC’s holdings in Lam Research were worth $5,859,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Values First Advisors Inc. raised its holdings in shares of Lam Research by 742.5% in the 4th quarter. Values First Advisors Inc. now owns 8,501 shares of the semiconductor company’s stock worth $614,000 after acquiring an additional 7,492 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Lam Research by 1,159.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 243,502 shares of the semiconductor company’s stock valued at $17,639,000 after purchasing an additional 224,164 shares in the last quarter. Lester Murray Antman dba SimplyRich boosted its position in shares of Lam Research by 900.0% during the fourth quarter. Lester Murray Antman dba SimplyRich now owns 3,240 shares of the semiconductor company’s stock valued at $234,000 after buying an additional 2,916 shares during the last quarter. Avidian Wealth Enterprises LLC purchased a new stake in Lam Research in the 4th quarter valued at $432,000. Finally, Valley Brook Capital Group Inc. lifted its position in shares of Lam Research by 900.0% during the fourth quarter. Valley Brook Capital Group Inc. now owns 4,750 shares of the semiconductor company’s stock valued at $343,000 after purchasing an additional 4,275 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on LRCX shares. Cantor Fitzgerald upgraded shares of Lam Research from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $95.00 to $100.00 in a research note on Thursday, January 30th. BNP Paribas raised Lam Research to a “hold” rating in a research report on Thursday, October 24th. B. Riley cut their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley upped their price objective 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. Finally, Wells Fargo & Company lifted their target price on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Stock Performance

Shares of LRCX opened at $81.57 on Thursday. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The stock’s 50-day simple moving average is $77.12 and its 200 day simple moving average is $77.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a market capitalization of $104.71 billion, a price-to-earnings ratio of 24.78, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Research analysts forecast that Lam Research Co. will post 3.69 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s payout ratio is 27.95%.

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.