Angeles Wealth Management LLC Takes $469,000 Position in Lam Research Co. (NASDAQ:LRCX)

Angeles Wealth Management LLC purchased a new stake in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 6,500 shares of the semiconductor company’s stock, valued at approximately $469,000.

Other hedge funds have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. increased its stake 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 acquiring an additional 192 shares during the last quarter. Sunflower Bank N.A. bought a new position in shares of Lam Research during the 3rd quarter valued at approximately $202,000. Insight Wealth Partners LLC purchased a new position in shares of Lam Research in the third quarter valued at $202,000. B&L Asset Management LLC bought a new stake in Lam Research in the third quarter worth $204,000. Finally, CWC Advisors LLC. purchased a new stake in Lam Research during the third quarter valued at $220,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on LRCX. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Wells Fargo & Company lifted their price target on Lam Research from $82.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Cantor Fitzgerald upgraded Lam Research from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $95.00 to $100.00 in a research report on Thursday, January 30th. Mizuho dropped their target price on Lam Research from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Lam Research in a report 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. According to data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and an average price target of $95.72.

Lam Research Trading Down 0.6 %

Shares of NASDAQ LRCX opened at $82.33 on Monday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $76.92 and a two-hundred day simple moving average of $78.19. The firm has a market cap of $105.68 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46.

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

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.12%. Lam Research’s dividend payout ratio is presently 27.96%.

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.