Edge Wealth Management LLC Buys Shares of 1,700 Lam Research Co. (LRCX)

Edge Wealth Management LLC bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, HoldingsChannel reports. The fund bought 1,700 shares of the semiconductor company’s stock, valued at approximately $231,000.

Several other hedge funds also recently bought and sold shares of LRCX. Csenge Advisory Group purchased a new stake in shares of Lam Research in the third quarter valued at approximately $35,000. IMS Capital Management purchased a new stake in shares of Lam Research in the third quarter valued at approximately $38,000. Ruggie Capital Group purchased a new stake in shares of Lam Research in the second quarter valued at approximately $134,000. Qube Research & Technologies Ltd grew its position in shares of Lam Research by 160.5% in the second quarter. Qube Research & Technologies Ltd now owns 1,076 shares of the semiconductor company’s stock valued at $186,000 after purchasing an additional 663 shares in the last quarter. Finally, Ffcm LLC grew its position in shares of Lam Research by 27,337.0% in the third quarter. Ffcm LLC now owns 7,408 shares of the semiconductor company’s stock valued at $190,000 after purchasing an additional 7,381 shares in the last quarter. Institutional investors and hedge funds own 88.89% of the company’s stock.

A number of equities research analysts have recently issued reports on LRCX shares. Citigroup dropped their price target on Lam Research from $216.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, September 25th. DA Davidson dropped their price target on Lam Research to $225.00 in a research report on Monday, October 15th. Mizuho lowered Lam Research from a “buy” rating to a “neutral” rating in a research report on Monday, October 1st. UBS Group lowered Lam Research from a “positive” rating to a “neutral” rating in a research report on Tuesday, October 23rd. Finally, Needham & Company LLC started coverage on Lam Research in a research report on Friday, December 21st. They issued a “buy” rating and a $180.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $220.47.

Shares of Lam Research stock opened at $144.11 on Friday. The company has a market capitalization of $22.35 billion, a P/E ratio of 8.08, a price-to-earnings-growth ratio of 0.84 and a beta of 1.38. Lam Research Co. has a fifty-two week low of $122.64 and a fifty-two week high of $234.88. The company has a quick ratio of 2.00, a current ratio of 2.66 and a debt-to-equity ratio of 0.34.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.14. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.31 billion. Lam Research had a return on equity of 49.80% and a net margin of 21.26%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.46 earnings per share. Equities research analysts predict that Lam Research Co. will post 14.37 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 26th. Stockholders of record on Wednesday, December 5th were given a dividend of $1.10 per share. The ex-dividend date was Tuesday, December 4th. This represents a $4.40 annualized dividend and a dividend yield of 3.05%. Lam Research’s dividend payout ratio is currently 24.62%.

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Lam Research 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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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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