Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 71,439 Shares of Lam Research Co. (NASDAQ:LRCX)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 967.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 78,823 shares of the semiconductor company’s stock after acquiring an additional 71,439 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Lam Research were worth $5,693,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parisi Gray Wealth Management boosted its stake in shares of Lam Research by 652.9% in the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock valued at $603,000 after purchasing an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY acquired a new position in Lam Research in the fourth quarter valued at $815,000. Jennison Associates LLC boosted its position in Lam Research by 20.0% during the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after acquiring an additional 39,725 shares during the last quarter. Creative Planning grew its holdings in Lam Research by 2.5% during the 3rd quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock worth $38,664,000 after acquiring an additional 1,146 shares during the period. Finally, Vest Financial LLC raised its position in shares of Lam Research by 68.7% in the 3rd quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock worth $29,372,000 after acquiring an additional 14,658 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Down 1.9 %

LRCX opened at $79.68 on Monday. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The firm has a market capitalization of $102.52 billion, a P/E ratio of 25.75, a PEG ratio of 1.53 and a beta of 1.45. The company’s 50-day moving average is $75.43 and its 200 day moving average is $79.86. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were paid a $0.23 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. Lam Research’s payout ratio is presently 29.74%.

Analyst Ratings Changes

Several equities research analysts recently commented on LRCX shares. Wells Fargo & Company decreased 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. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price objective (down previously from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Wolfe Research lowered shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, The Goldman Sachs Group cut their price objective on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $95.77.

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.