Ridgeline Wealth Planning LLC Acquires Shares of 7,794 Lam Research Co. (NASDAQ:LRCX)

Ridgeline Wealth Planning LLC bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,794 shares of the semiconductor company’s stock, valued at approximately $563,000. Lam Research makes up approximately 0.5% of Ridgeline Wealth Planning LLC’s portfolio, making the stock its 20th biggest position.

A number of other institutional investors have also recently modified their holdings of LRCX. Leavell Investment Management Inc. grew its stake in Lam Research by 1,119.9% in the 4th quarter. Leavell Investment Management Inc. now owns 23,789 shares of the semiconductor company’s stock valued at $1,724,000 after acquiring an additional 21,839 shares during the period. Portfolio Design Labs LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at about $349,000. Fortress Financial Solutions LLC purchased a new stake in shares of Lam Research during the fourth quarter worth about $309,000. Gradient Capital Advisors LLC increased its stake in shares of Lam Research by 898.8% during the fourth quarter. Gradient Capital Advisors LLC now owns 22,883 shares of the semiconductor company’s stock worth $1,653,000 after purchasing an additional 20,592 shares in the last quarter. Finally, Quent Capital LLC lifted its stake in Lam Research by 870.3% in the 4th quarter. Quent Capital LLC now owns 5,676 shares of the semiconductor company’s stock valued at $410,000 after buying an additional 5,091 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on LRCX shares. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 price objective (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. B. Riley reduced their price objective on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a report on Friday, January 17th. Morgan Stanley upped their target price on shares of Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group decreased 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, January 10th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.72.

Lam Research Price Performance

LRCX stock opened at $83.26 on Wednesday. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00. The business has a fifty day moving average of $77.03 and a two-hundred day moving average of $78.01. The stock has a market cap of $106.88 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. 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 (NASDAQ:LRCX) last issued its quarterly earnings data 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%. As a group, research analysts anticipate that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Wednesday, March 5th will be given a dividend of $0.23 per share. 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 1.10%. Lam Research’s payout ratio is currently 27.95%.

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.