ABC Arbitrage SA Takes $256,000 Position in Lam Research Co. (NASDAQ:LRCX)

ABC Arbitrage SA acquired a new stake in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,544 shares of the semiconductor company’s stock, valued at approximately $256,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cypress Capital Group lifted its stake in shares of Lam Research by 3.7% in the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company’s stock valued at $2,987,000 after purchasing an additional 132 shares in the last quarter. Savvy Advisors Inc. lifted its position in Lam Research by 58.3% during the 3rd quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company’s stock worth $297,000 after acquiring an additional 134 shares in the last quarter. West Oak Capital LLC boosted its holdings in Lam Research by 50.9% in the 4th quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after acquiring an additional 135 shares during the period. Baldwin Investment Management LLC boosted its holdings in Lam Research by 1.4% in the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock worth $8,364,000 after acquiring an additional 137 shares during the period. Finally, Bedell Frazier Investment Counselling LLC boosted its holdings in Lam Research by 10.1% in the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock worth $1,272,000 after acquiring an additional 143 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

LRCX stock opened at $82.75 on Friday. 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 firm has a market cap of $106.22 billion, a P/E ratio of 25.14, a P/E/G 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. The stock’s 50 day simple moving average is $77.48 and its 200 day simple moving average is $77.99.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts predict that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Announces Dividend

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 given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Wednesday, March 5th. Lam Research’s dividend payout ratio is presently 27.95%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. B. Riley decreased their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Stifel Nicolaus restated a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a report on Thursday, October 24th. The Goldman Sachs Group decreased their price target on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a report on Friday, January 10th. Barclays decreased their price target on Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, Sanford C. Bernstein upgraded Lam Research from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company 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.