Cranbrook Wealth Management LLC Increases Stake in Lam Research Co. (NASDAQ:LRCX)

Cranbrook Wealth Management LLC boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 900.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 550 shares of the semiconductor company’s stock after purchasing an additional 495 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in Lam Research were worth $40,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. West Oak Capital LLC boosted its holdings in shares of Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC boosted its holdings in Lam Research by 159.1% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 500 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 307 shares during the last quarter. Laurel Wealth Advisors LLC purchased a new stake in Lam Research during the fourth quarter valued at about $37,000. Eagle Bay Advisors LLC increased its stake in Lam Research by 484.2% during the fourth quarter. Eagle Bay Advisors LLC now owns 555 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 460 shares during the last quarter. Finally, Fortitude Family Office LLC raised its holdings in shares of Lam Research by 896.7% in the 4th quarter. Fortitude Family Office LLC now owns 598 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 538 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on LRCX. B. Riley dropped their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Mizuho dropped their price objective on shares of Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Sanford C. Bernstein reduced their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a report on Friday, November 29th. Morgan Stanley upped their price target 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, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.77.

Lam Research Trading Up 1.4 %

Shares of NASDAQ LRCX opened at $80.30 on Friday. The stock has a market capitalization of $103.32 billion, a P/E ratio of 25.95, a PEG ratio of 1.37 and a beta of 1.45. The stock’s 50 day moving average price is $74.68 and its two-hundred day moving average price is $80.99. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. The business 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 business’s revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company posted $6.85 EPS. On average, analysts anticipate that Lam Research Co. will post 3.51 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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