Stonebridge Financial Group LLC Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Stonebridge Financial Group LLC bought a new position in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 2,673 shares of the semiconductor company’s stock, valued at approximately $193,000.

Other hedge funds have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. raised its position in Lam Research by 2,400.0% during 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. Insight Wealth Partners LLC bought a new position in shares of Lam Research during the 3rd quarter valued at approximately $202,000. B&L Asset Management LLC purchased a new stake in Lam Research during the 3rd quarter valued at $204,000. CWC Advisors LLC. bought a new stake in Lam Research in the third quarter worth $220,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Lam Research during the third quarter worth $220,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Down 0.6 %

NASDAQ:LRCX opened at $83.26 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The company has a 50-day moving average of $77.03 and a 200 day moving average of $78.01. The firm has a market cap of $106.88 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. As a group, research analysts anticipate that Lam Research Co. will post 3.69 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.10%. Lam Research’s dividend payout ratio is presently 27.95%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LRCX. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 target price (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Cantor Fitzgerald raised shares of Lam Research from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $95.00 to $100.00 in a research report on Thursday, January 30th. Morgan Stanley boosted their target price on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Wells Fargo & Company increased their price target on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Finally, Wolfe Research cut Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $95.72.

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.