Ridgewood Investments LLC Purchases 6,031 Shares of Lam Research Co. (NASDAQ:LRCX)

Ridgewood Investments LLC increased its stake in Lam Research Co. (NASDAQ:LRCX) by 1,196.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,535 shares of the semiconductor company’s stock after purchasing an additional 6,031 shares during the quarter. Ridgewood Investments LLC’s holdings in Lam Research were worth $472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its holdings in Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock worth $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. State Street Corp boosted its holdings in Lam Research by 1.6% in the third quarter. State Street Corp now owns 5,886,676 shares of the semiconductor company’s stock worth $4,817,113,000 after purchasing an additional 94,086 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Lam Research by 2.1% in the third quarter. Geode Capital Management LLC now owns 3,120,511 shares of the semiconductor company’s stock worth $2,539,413,000 after purchasing an additional 64,053 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Lam Research by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock worth $1,527,273,000 after acquiring an additional 11,093 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after acquiring an additional 89,470 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of Lam Research stock traded down $2.39 during trading hours on Friday, reaching $74.65. The company’s stock had a trading volume of 3,025,027 shares, compared to its average volume of 9,105,278. Lam Research Co. has a one year low of $68.87 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The firm has a 50 day moving average price of $74.72 and a 200-day moving average price of $82.01. The stock has a market cap of $96.05 billion, a P/E ratio of 24.13, a P/E/G ratio of 1.22 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS 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 firm had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the previous year, the company earned $6.85 EPS. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, analysts predict that Lam Research Co. will post 3.5 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.23%. Lam Research’s dividend payout ratio is presently 29.77%.

Analysts Set New Price Targets

LRCX has been the topic of several analyst reports. The Goldman Sachs Group dropped their price target on shares of Lam Research from $96.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research note 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 on the stock in a research note on Friday, November 29th. B. Riley dropped their price target on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lowered their target price on shares of Lam Research from $85.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, December 6th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $96.91.

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.