Newbridge Financial Services Group Inc. Acquires New Position in Lam Research Co. (NASDAQ:LRCX)

Newbridge Financial Services Group Inc. bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,292 shares of the semiconductor company’s stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LRCX. Migdal Insurance & Financial Holdings Ltd. boosted 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 purchasing an additional 192 shares during the period. Sunflower Bank N.A. purchased a new position in shares of Lam Research in the 3rd quarter valued at about $202,000. Insight Wealth Partners LLC acquired a new position in shares of Lam Research during the third quarter worth about $202,000. B&L Asset Management LLC purchased a new stake in shares of Lam Research during the third quarter worth approximately $204,000. Finally, CWC Advisors LLC. acquired a new stake in Lam Research in the third quarter valued at approximately $220,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. BNP Paribas raised shares of Lam Research to a “hold” rating in a research report on Thursday, October 24th. Barclays dropped their target price on Lam Research from $90.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Mizuho lowered their price objective on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. The Goldman Sachs Group cut their target price on Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.72.

Lam Research Stock Performance

Shares of LRCX stock opened at $82.33 on Monday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock has a 50 day simple moving average of $76.92 and a 200-day simple moving average of $78.19. The company has a market cap of $105.68 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (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%. On average, equities analysts forecast that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.12%. Lam Research’s dividend payout ratio (DPR) is presently 27.96%.

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.