Jupiter Wealth Management LLC Buys 1,350 Shares of Lam Research Co. (NASDAQ:LRCX)

Jupiter Wealth Management LLC boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,500 shares of the semiconductor company’s stock after buying an additional 1,350 shares during the quarter. Jupiter Wealth Management LLC’s holdings in Lam Research were worth $108,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Financial Perspectives Inc increased its position in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 309 shares during the last quarter. Fairway Wealth LLC lifted its holdings in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 306 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Lam Research during the 4th quarter worth about $27,000. West Paces Advisors Inc. bought a new position in Lam Research during the 4th quarter valued at about $27,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Lam Research in the 4th quarter worth about $27,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Trading Down 1.8%

NASDAQ LRCX opened at $81.06 on Friday. The company’s 50-day simple moving average is $72.92 and its two-hundred day simple moving average is $75.73. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00. The company has a market capitalization of $103.69 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Lam Research’s revenue was up 24.4% compared to the same quarter last year. During the same period last year, the company posted $7.79 earnings per share. Equities analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.13%. Lam Research’s dividend payout ratio is presently 25.63%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays decreased their price objective on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Bank of America decreased their price target on Lam Research from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. UBS Group dropped their price objective on Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, April 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 price objective on shares of Lam Research in a research report on Thursday, April 24th. Finally, Wells Fargo & Company decreased their target price on Lam Research from $85.00 to $75.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $91.56.

About Lam Research

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.