LFA Lugano Financial Advisors SA purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,643 shares of the semiconductor company’s stock, valued at approximately $454,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of LRCX. Financial Gravity Wealth Inc. bought a new position in Lam Research in the 1st quarter valued at approximately $165,000. Rockefeller Capital Management L.P. bought a new position in shares of Lam Research during the 1st quarter valued at $335,000. Cetera Advisors LLC lifted its holdings in shares of Lam Research by 13.7% during the 1st quarter. Cetera Advisors LLC now owns 2,095 shares of the semiconductor company’s stock valued at $425,000 after buying an additional 252 shares during the period. IFP Advisors Inc lifted its holdings in shares of Lam Research by 91.8% during the 1st quarter. IFP Advisors Inc now owns 1,279 shares of the semiconductor company’s stock valued at $260,000 after buying an additional 612 shares during the period. Finally, Lido Advisors LLC lifted its holdings in shares of Lam Research by 66.2% during the 1st quarter. Lido Advisors LLC now owns 3,878 shares of the semiconductor company’s stock valued at $787,000 after buying an additional 1,545 shares during the period. Institutional investors and hedge funds own 89.21% of the company’s stock.
Shares of Lam Research stock traded up $5.99 during trading on Friday, reaching $143.61. 3,757,923 shares of the stock traded hands, compared to its average volume of 3,356,249. The firm has a market cap of $23.10 billion, a price-to-earnings ratio of 8.04, a PEG ratio of 0.59 and a beta of 1.33. The company has a quick ratio of 2.31, a current ratio of 2.90 and a debt-to-equity ratio of 0.27. Lam Research Co. has a 52-week low of $135.99 and a 52-week high of $234.88.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 26th. Investors of record on Wednesday, September 12th were issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Tuesday, September 11th. Lam Research’s payout ratio is 24.62%.
Several equities analysts have recently weighed in on LRCX shares. Zacks Investment Research cut Lam Research from a “hold” rating to a “sell” rating in a report on Tuesday, June 19th. BidaskClub cut Lam Research from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. UBS Group raised Lam Research from a “neutral” rating to a “buy” rating and set a $220.00 price target on the stock in a report on Tuesday, June 26th. Susquehanna Bancshares lowered their price target on Lam Research from $290.00 to $260.00 and set a “positive” rating on the stock in a report on Monday, July 9th. Finally, Citigroup lowered their price target on Lam Research from $245.00 to $239.00 and set a “buy” rating on the stock in a report on Friday, July 13th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $241.85.
Lam Research Company 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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