Range Financial Group LLC Acquires New Position in Lam Research Co. (NASDAQ:LRCX)

Range Financial Group LLC bought a new position in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,960 shares of the semiconductor company’s stock, valued at approximately $286,000.

A number of other institutional investors and hedge funds have also bought and sold shares of LRCX. Lantz Financial LLC bought a new position in shares of Lam Research during the 2nd quarter valued at $212,000. Strategic Financial Concepts LLC purchased a new position in shares of Lam Research in the second quarter worth about $373,000. Wedbush Securities Inc. lifted its stake in shares of Lam Research by 2.7% in the 2nd quarter. Wedbush Securities Inc. now owns 938 shares of the semiconductor company’s stock valued at $999,000 after acquiring an additional 25 shares during the last quarter. Choreo LLC boosted its holdings in Lam Research by 670.3% during the 2nd quarter. Choreo LLC now owns 3,628 shares of the semiconductor company’s stock valued at $3,849,000 after acquiring an additional 3,157 shares during the period. Finally, Global X Japan Co. Ltd. grew its position in Lam Research by 16.7% during the 2nd quarter. Global X Japan Co. Ltd. now owns 5,643 shares of the semiconductor company’s stock worth $6,009,000 after acquiring an additional 807 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Down 0.6 %

NASDAQ:LRCX opened at $77.52 on Wednesday. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The company has a market capitalization of $99.74 billion, a PE ratio of 25.06, a P/E/G ratio of 1.22 and a beta of 1.45. The firm’s 50-day moving average price is $74.65 and its 200-day moving average price is $82.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the prior year, the company earned $6.85 earnings per share. The business’s revenue was up 19.7% compared to the same quarter last year. On average, equities analysts predict that Lam Research Co. will post 3.5 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is 29.77%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. Sanford C. Bernstein dropped their price target on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. B. Riley dropped their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Citigroup cut their target price on Lam Research from $99.00 to $89.30 and set a “buy” rating on the stock in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.24.

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.