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

Newbridge Financial Services Group Inc. bought a new stake in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,292 shares of the semiconductor company’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LRCX. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of 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 buying an additional 192 shares during the last quarter. Sunflower Bank N.A. purchased a new stake in Lam Research in the 3rd quarter worth approximately $202,000. Insight Wealth Partners LLC acquired a new position in Lam Research in the 3rd quarter valued at $202,000. B&L Asset Management LLC purchased a new position in shares of Lam Research during the 3rd quarter worth $204,000. Finally, CWC Advisors LLC. acquired a new stake in shares of 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 Price Performance

Shares of NASDAQ LRCX opened at $82.33 on Monday. The business has a 50 day moving average price of $76.92 and a two-hundred day moving average price of $78.19. Lam Research Co. has a fifty-two week low of $68.87 and a fifty-two week high of $113.00. The firm has a market cap of $105.68 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Sell-side analysts expect that Lam Research Co. will post 3.69 earnings per share 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 given a dividend of $0.23 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.12%. Lam Research’s payout ratio is 27.96%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LRCX. The Goldman Sachs Group reduced 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. Wells Fargo & Company raised their target price on shares of Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Barclays dropped their price target on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Friday, January 17th. Finally, Wolfe Research lowered Lam Research from an “outperform” rating to a “peer perform” rating in a research 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.