New Potomac Partners LLC purchased a new stake in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 9,610 shares of the semiconductor company’s stock, valued at approximately $1,309,000.
Other institutional investors also recently added to or reduced their stakes in the company. Csenge Advisory Group acquired a new position in shares of Lam Research in the third quarter valued at approximately $35,000. IMS Capital Management acquired a new position in shares of Lam Research in the third quarter valued at approximately $38,000. Legacy Financial Advisors Inc. grew its holdings in shares of Lam Research by 85.0% in the fourth quarter. Legacy Financial Advisors Inc. now owns 433 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 199 shares in the last quarter. Ipswich Investment Management Co. Inc. acquired a new position in shares of Lam Research in the fourth quarter valued at approximately $67,000. Finally, Kistler Tiffany Companies LLC grew its holdings in shares of Lam Research by 118.2% in the fourth quarter. Kistler Tiffany Companies LLC now owns 1,394 shares of the semiconductor company’s stock valued at $190,000 after purchasing an additional 755 shares in the last quarter. 89.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lam Research stock traded up $9.61 during trading hours on Wednesday, hitting $149.50. The company had a trading volume of 152,347 shares, compared to its average volume of 1,944,261. Lam Research Co. has a twelve month low of $122.64 and a twelve month high of $234.88. The company has a current ratio of 2.66, a quick ratio of 2.00 and a debt-to-equity ratio of 0.34. The stock has a market cap of $22.90 billion, a price-to-earnings ratio of 7.80, a PEG ratio of 0.87 and a beta of 1.38.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 26th. Stockholders of record on Wednesday, December 5th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Tuesday, December 4th. Lam Research’s payout ratio is 24.62%.
LRCX has been the subject of a number of research reports. Citigroup dropped their price objective on shares of Lam Research from $216.00 to $177.00 and set a “buy” rating for the company in a report on Tuesday, September 25th. DA Davidson dropped their price objective on shares of Lam Research to $225.00 in a report on Monday, October 15th. Mizuho cut shares of Lam Research from a “buy” rating to a “neutral” rating in a report on Monday, October 1st. UBS Group cut shares of Lam Research from a “positive” rating to a “neutral” rating in a report on Tuesday, October 23rd. Finally, Needham & Company LLC assumed coverage on shares of Lam Research in a report on Friday, December 21st. They set a “buy” rating and a $180.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Lam Research currently has an average rating of “Buy” and a consensus target price of $220.06.
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Lam Research Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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