Cedar Wealth Management LLC Invests $34,000 in Lam Research Co. (NASDAQ:LRCX)

Cedar Wealth Management LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 470 shares of the semiconductor company’s stock, valued at approximately $34,000.

Several other hedge funds also recently modified their holdings of the company. West Oak Capital LLC increased its holdings in shares of Lam Research by 50.9% during the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company’s stock worth $29,000 after buying an additional 135 shares in the last quarter. Baldwin Investment Management LLC increased its holdings in shares of Lam Research by 1.4% in the third quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock valued at $8,364,000 after purchasing an additional 137 shares in the last quarter. Bedell Frazier Investment Counselling LLC increased its holdings in shares of Lam Research by 10.1% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company’s stock valued at $1,272,000 after purchasing an additional 143 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Lam Research by 3.9% in the third quarter. Advisors Asset Management Inc. now owns 3,859 shares of the semiconductor company’s stock valued at $3,149,000 after purchasing an additional 144 shares in the last quarter. Finally, IHT Wealth Management LLC increased its holdings in shares of Lam Research by 5.7% in the third quarter. IHT Wealth Management LLC now owns 2,729 shares of the semiconductor company’s stock valued at $2,216,000 after purchasing an additional 147 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $90.00, for a total value of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at $16,117,560. The trade was a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

Lam Research Trading Down 2.2 %

Shares of NASDAQ LRCX opened at $75.84 on Friday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The company’s fifty day moving average is $79.62 and its 200-day moving average is $77.28. The stock has a market cap of $97.35 billion, a price-to-earnings ratio of 23.04, a P/E/G ratio of 1.47 and a beta of 1.53.

Lam Research (NASDAQ:LRCX) last issued its quarterly 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 net margin of 26.49% and a return on equity of 51.86%. Equities research analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.21%. Lam Research’s payout ratio is currently 27.96%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LRCX shares. KeyCorp raised shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price target for the company in a report on Friday, January 17th. Mizuho raised their price target on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Wells Fargo & Company raised their price target on shares of Lam Research from $82.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Sanford C. Bernstein raised shares of Lam Research from a “market perform” rating to an “outperform” rating and raised their price target for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Finally, Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.06.

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.