Cromwell Holdings LLC Acquires 3,618 Shares of Lam Research Co. (NASDAQ:LRCX)

Cromwell Holdings LLC increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,020 shares of the semiconductor company’s stock after purchasing an additional 3,618 shares during the quarter. Cromwell Holdings LLC’s holdings in Lam Research were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. lifted its holdings 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 valued at $163,000 after acquiring an additional 192 shares during the period. Insight Wealth Partners LLC bought a new position in Lam Research in the third quarter valued at about $202,000. B&L Asset Management LLC purchased a new position in shares of Lam Research during the 3rd quarter valued at about $204,000. CWC Advisors LLC. purchased a new position in shares of Lam Research during the 3rd quarter valued at about $220,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Lam Research during the 3rd quarter valued at about $220,000. 84.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LRCX has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $100.00 price objective on shares of Lam Research in a research report on Tuesday. Wells Fargo & Company lifted their target price on Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Morgan Stanley lifted their target price 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. The Goldman Sachs Group decreased their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Trading Up 1.6 %

LRCX opened at $89.02 on Friday. The firm has a market cap of $114.27 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 1.45 and a beta of 1.46. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The stock has a fifty day moving average price of $78.27 and a 200-day moving average price of $77.97.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, equities research analysts anticipate that Lam Research Co. will post 3.71 earnings per share 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 1.03%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.95%.

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.