Newbridge Financial Services Group Inc. Purchases 70 Shares of Lam Research Co. (NASDAQ:LRCX)

Newbridge Financial Services Group Inc. raised its position in Lam Research Co. (NASDAQ:LRCX) by 20.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 412 shares of the semiconductor company’s stock after buying an additional 70 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Lam Research were worth $439,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research in the second quarter valued at approximately $32,000. RFP Financial Group LLC raised its stake in Lam Research by 52.2% during the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares in the last quarter. Raleigh Capital Management Inc. boosted its position in Lam Research by 78.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 22 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Lam Research during the second quarter worth $40,000. Finally, Country Trust Bank acquired a new position in shares of Lam Research during the second quarter worth $43,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $1,056.99, for a total value of $1,712,323.80. Following the completion of the sale, the senior vice president now directly owns 5,237 shares of the company’s stock, valued at approximately $5,535,456.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

Lam Research Trading Down 2.3 %

Shares of Lam Research stock opened at $797.38 on Wednesday. The stock has a market capitalization of $104.25 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 1.51 and a beta of 1.48. Lam Research Co. has a 52 week low of $574.42 and a 52 week high of $1,130.00. The stock has a 50 day moving average price of $811.37 and a two-hundred day moving average price of $918.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97.

Lam Research’s stock is scheduled to split on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be distributed to shareholders after the market closes on Wednesday, October 2nd.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping the consensus estimate of $7.58 by $0.56. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the previous year, the firm posted $5.98 earnings per share. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, equities analysts anticipate that Lam Research Co. will post 35.2 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Tuesday, September 17th. This is a positive change from Lam Research’s previous quarterly dividend of $2.00. Lam Research’s dividend payout ratio (DPR) is currently 33.84%.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of research reports. Barclays boosted their price objective on Lam Research from $865.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 5th. Mizuho reduced their price target on Lam Research from $1,050.00 to $950.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Lam Research from $1,100.00 to $950.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Wells Fargo & Company cut their target price on shares of Lam Research from $1,100.00 to $1,000.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $1,130.00 price objective on shares of Lam Research in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,002.32.

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.