5 Best NASDAQ Stocks to Buy Now

3. Lam Research Corporation (NASDAQ: LRCX)

Lam Research Corporation (NASDAQ: LRCX) is a California-based company that designs, manufactures, and markets semiconductor processing equipment. It has a market cap of over $92 billion and posted more than $10 billion in revenue in June 2020. The share prices of the firm have gained more than 35% since the beginning of the year and are expected to soar further amid rise in demand for semiconductor chips. Lam Research is placed third on our list of 10 best NASDAQ stocks to buy for now. 

At the end of the fourth quarter of 2020, 56 hedge funds out of 887 in the Insider Monkey database held stakes in Lam, up from 55 out of 817 in Q3 2020. The total value of the shares held by these hedge funds in Q4 2020 was over $2.6 billion, up from $2.2 billion in the preceding quarter. Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management held the most shares – 957,559 – worth more than $450 million. Coatue Management was 2nd with 952,193 shares worth almost $449 million.