Versant Capital Management Inc Acquires New Position in Lam Research Co. (NASDAQ:LRCX)

Versant Capital Management Inc acquired a new stake in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,198 shares of the semiconductor company’s stock, valued at approximately $159,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Quarry LP grew its stake in Lam Research by 175.0% in the second quarter. Quarry LP now owns 88 shares of the semiconductor company’s stock worth $94,000 after purchasing an additional 56 shares in the last quarter. SouthState Corp lifted its holdings in shares of Lam Research by 163.4% in the 2nd quarter. SouthState Corp now owns 108 shares of the semiconductor company’s stock worth $115,000 after buying an additional 67 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Lam Research by 2,400.0% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after buying an additional 192 shares in the last quarter. Sunflower Bank N.A. purchased a new position in shares of Lam Research during the third quarter valued at $202,000. Finally, Insight Wealth Partners LLC bought a new stake in shares of Lam Research in the third quarter valued at about $202,000. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research reports. B. Riley cut 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. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. Morgan Stanley boosted their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, October 11th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $97.24.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $75.11 on Friday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The company has a market cap of $96.64 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. The company’s 50 day moving average is $74.67 and its 200 day moving average is $83.07.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.85 earnings per share. On average, sell-side analysts forecast that Lam Research Co. will post 3.5 EPS for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.22%. 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.