Salomon & Ludwin LLC Purchases 14,283 Shares of Lam Research Co. (NASDAQ:LRCX)

Salomon & Ludwin LLC grew its position in shares of Lam Research Co. (NASDAQ:LRCX) by 900.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,870 shares of the semiconductor company’s stock after buying an additional 14,283 shares during the quarter. Salomon & Ludwin LLC’s holdings in Lam Research were worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of LRCX. Migdal Insurance & Financial Holdings Ltd. raised its holdings in Lam Research by 2,400.0% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 200 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 192 shares during the period. Insight Wealth Partners LLC purchased a new stake in Lam Research in the 3rd quarter worth $202,000. B&L Asset Management LLC purchased a new stake in Lam Research in the 3rd quarter worth $204,000. CWC Advisors LLC. purchased a new stake in Lam Research in the 3rd quarter worth $220,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Lam Research in the 3rd quarter worth $220,000. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Down 0.7 %

Shares of NASDAQ:LRCX opened at $82.75 on Friday. Lam Research Co. has a 1 year low of $68.87 and a 1 year high of $113.00. The business has a 50 day simple moving average of $77.35 and a two-hundred day simple moving average of $77.96. The firm has a market capitalization of $106.22 billion, a PE ratio of 25.14, a price-to-earnings-growth 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.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. On average, equities analysts predict that Lam Research Co. will post 3.69 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.11%. Lam Research’s payout ratio is 27.95%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LRCX. Mizuho cut their price target on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Barclays cut their price target on 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. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. BNP Paribas upgraded Lam Research to a “hold” rating in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein raised Lam Research from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.72.

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.