2,637 Shares in Lam Research Co. (NASDAQ:LRCX) Bought by BridgePort Financial Solutions LLC

BridgePort Financial Solutions LLC purchased a new position 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 purchased 2,637 shares of the semiconductor company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Park Square Financial Group LLC acquired a new stake in Lam Research during the 4th quarter worth $31,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Lam Research during the 4th quarter worth $99,708,000. Brucke Financial Inc. acquired a new stake in Lam Research during the 4th quarter worth $225,000. Jefferies Financial Group Inc. boosted its stake in Lam Research by 1,195.5% during the 4th quarter. Jefferies Financial Group Inc. now owns 92,203 shares of the semiconductor company’s stock worth $6,660,000 after purchasing an additional 85,086 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. boosted its stake in Lam Research by 414.7% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,701 shares of the semiconductor company’s stock worth $267,000 after purchasing an additional 2,982 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 3.6%

Shares of NASDAQ:LRCX opened at $83.94 on Wednesday. The firm’s 50-day moving average is $73.11 and its two-hundred day moving average is $75.78. 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 $56.32 and a 1 year high of $113.00. The firm has a market capitalization of $107.37 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the firm earned $7.79 earnings per share. The business’s quarterly revenue was up 24.4% compared to the same quarter last year. Analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.10%. Lam Research’s payout ratio is 25.63%.

Analyst Ratings Changes

LRCX has been the topic of several recent research reports. Stifel Nicolaus lowered their price target on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on shares of Lam Research and gave the company a “hold” rating in a research report on Thursday, April 24th. Barclays lowered their price target on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price target on shares of Lam Research in a research report on Thursday, April 24th. Finally, Argus raised shares of Lam Research to a “strong-buy” rating in a research report on Friday, April 25th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.56.

Lam Research Profile

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.