Atlantic Edge Private Wealth Management LLC Increases Position in Lam Research Co. (NASDAQ:LRCX)

Atlantic Edge Private Wealth Management LLC boosted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 600 shares of the semiconductor company’s stock after buying an additional 540 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in Lam Research were worth $43,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Parisi Gray Wealth Management boosted its holdings in shares of Lam Research by 652.9% during the 4th quarter. Parisi Gray Wealth Management now owns 8,350 shares of the semiconductor company’s stock worth $603,000 after purchasing an additional 7,241 shares during the last quarter. Burns J W & Co. Inc. NY acquired a new position in Lam Research in the fourth quarter valued at approximately $815,000. Jennison Associates LLC lifted its holdings in Lam Research by 20.0% in the third quarter. Jennison Associates LLC now owns 238,275 shares of the semiconductor company’s stock valued at $194,451,000 after acquiring an additional 39,725 shares during the last quarter. Creative Planning lifted its holdings in Lam Research by 2.5% in the third quarter. Creative Planning now owns 47,377 shares of the semiconductor company’s stock valued at $38,664,000 after acquiring an additional 1,146 shares during the last quarter. Finally, Vest Financial LLC raised its position in Lam Research by 68.7% in the third quarter. Vest Financial LLC now owns 35,991 shares of the semiconductor company’s stock valued at $29,372,000 after purchasing an additional 14,658 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Up 1.7 %

LRCX stock opened at $83.73 on Tuesday. The firm has a market capitalization of $107.48 billion, a P/E ratio of 25.43, a P/E/G ratio of 1.37 and a beta of 1.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company’s 50 day simple moving average is $76.92 and its 200-day simple moving average is $78.06. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00.

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

Lam Research Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.10%. Lam Research’s dividend payout ratio is 27.95%.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research analyst reports. Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $85.00 to $91.00 in a research report on Thursday, January 30th. KeyCorp upgraded 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. Wolfe Research downgraded shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Barclays decreased their target price on shares of Lam Research from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Company 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.