Red Door Wealth Management LLC Takes $589,000 Position in Lam Research Co. (NASDAQ:LRCX)

Red Door Wealth Management LLC acquired a new position in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,155 shares of the semiconductor company’s stock, valued at approximately $589,000.

Other institutional investors have also modified their holdings of the company. Gabelli Funds LLC grew its holdings in shares of Lam Research by 5.6% in the second quarter. Gabelli Funds LLC now owns 300 shares of the semiconductor company’s stock valued at $319,000 after purchasing an additional 16 shares during the period. Insigneo Advisory Services LLC increased its stake in shares of Lam Research by 2.6% during the second quarter. Insigneo Advisory Services LLC now owns 907 shares of the semiconductor company’s stock worth $966,000 after buying an additional 23 shares during the period. Trust Co. of Toledo NA OH grew its stake in shares of Lam Research by 2.4% during the third quarter. Trust Co. of Toledo NA OH now owns 2,074 shares of the semiconductor company’s stock worth $1,693,000 after purchasing an additional 49 shares in the last quarter. Quarry LP raised its position in shares of Lam Research by 175.0% during the 2nd quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after acquiring an additional 56 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in Lam Research by 3.9% during the second quarter. Sunbelt Securities Inc. now owns 1,533 shares of the semiconductor company’s stock worth $1,633,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on LRCX shares. Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 15th. B. Riley lowered their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group reduced their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Sanford C. Bernstein lowered their price objective on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research report on Friday, November 29th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $95.77.

Lam Research Price Performance

Lam Research stock opened at $81.23 on Friday. The stock’s 50 day moving average price is $75.11 and its two-hundred day moving average price is $80.06. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The stock has a market capitalization of $104.52 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.50 and a beta of 1.45. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. Lam Research’s revenue was up 19.7% on a year-over-year basis. During the same period last year, the business posted $6.85 earnings per share. On average, equities analysts predict that Lam Research Co. will post 3.51 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s payout ratio is 29.77%.

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.