Princeton Global Asset Management LLC Invests $2.25 Million in Lam Research Co. (NASDAQ:LRCX)

Princeton Global Asset Management LLC purchased a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 31,121 shares of the semiconductor company's stock, valued at approximately $2,248,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cypress Capital Group boosted its stake in shares of Lam Research by 3.7% during the 3rd quarter. Cypress Capital Group now owns 3,660 shares of the semiconductor company's stock worth $2,987,000 after acquiring an additional 132 shares in the last quarter. Savvy Advisors Inc. boosted its position in Lam Research by 58.3% during the third quarter. Savvy Advisors Inc. now owns 364 shares of the semiconductor company's stock worth $297,000 after purchasing an additional 134 shares in the last quarter. West Oak Capital LLC grew its holdings in Lam Research by 50.9% in the fourth quarter. West Oak Capital LLC now owns 400 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 135 shares during the last quarter. Baldwin Investment Management LLC increased its position 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 buying an additional 137 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC raised its stake in shares of Lam Research by 10.1% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 1,559 shares of the semiconductor company's stock worth $1,272,000 after buying an additional 143 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Stock Performance

Lam Research stock opened at $81.05 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The firm's fifty day moving average price is $76.05 and its 200 day moving average price is $78.76. The company has a market capitalization of $104.29 billion, a price-to-earnings ratio of 24.62, a price-to-earnings-growth ratio of 1.34 and a beta of 1.46. Lam Research Co. has a 12-month low of $68.87 and a 12-month high of $113.00.

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

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were given a $0.23 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.14%. Lam Research's payout ratio is 27.95%.

Analysts Set New Price Targets

LRCX has been the subject of several recent research reports. KeyCorp upgraded shares of Lam Research from a "sector weight" rating to an "overweight" rating and set a $95.00 target price for the company in a report on Friday, January 17th. Morgan Stanley lifted their price target 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. The Goldman Sachs Group dropped their target price on Lam Research from $96.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, January 10th. StockNews.com downgraded shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Friday, October 11th. Finally, B. Riley lowered their price objective on shares of Lam Research from $132.50 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $95.72.

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.

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