Partners Wealth Management LLC purchased a new stake in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 2,346 shares of the semiconductor company’s stock, valued at approximately $771,000.
Other institutional investors have also added to or reduced their stakes in the company. William Mack & Associates Inc. bought a new stake in Lam Research in the 3rd quarter worth approximately $25,000. Cedar Mountain Advisors LLC grew its holdings in shares of Lam Research by 242.9% in the first quarter. Cedar Mountain Advisors LLC now owns 120 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. Paladin Partners LLC purchased a new position in shares of Lam Research in the second quarter valued at $26,000. Quintet Private Bank Europe S.A. increased its position in Lam Research by 100.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 100 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 50 shares during the last quarter. Finally, Dakota Community Bank & Trust NA bought a new stake in Lam Research in the third quarter worth $33,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.
Lam Research Stock Performance
NASDAQ:LRCX opened at $239.11 on Friday. The firm has a market capitalization of $298.69 billion, a PE ratio of 35.63, a PEG ratio of 0.94 and a beta of 1.85. The stock’s fifty day moving average is $294.47 and its 200 day moving average is $283.78. Lam Research Corporation has a fifty-two week low of $135.50 and a fifty-two week high of $438.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48.
Lam Research (NASDAQ:LRCX – Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.18 by $0.02. The company had revenue of $8.22 billion during the quarter, compared to analyst estimates of $8.14 billion. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. Lam Research’s quarterly revenue was up 54.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.26 earnings per share. On average, sell-side analysts anticipate that Lam Research Corporation will post 9.59 earnings per share for the current year.
Lam Research Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 23rd were issued a $0.33 dividend. This is a boost from Lam Research’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, September 23rd. This represents a $1.32 annualized dividend and a dividend yield of 0.6%. Lam Research’s dividend payout ratio (DPR) is 19.67%.
Insider Transactions at Lam Research
In related news, Director Bethany Mayer sold 9,557 shares of Lam Research stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the completion of the transaction, the director directly owned 20,995 shares of the company’s stock, valued at approximately $6,607,966.30. The trade was a 31.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ava Harter sold 5,000 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the transaction, the insider owned 42,462 shares in the company, valued at $12,843,056.52. The trade was a 10.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.31% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on LRCX. Wells Fargo & Company reaffirmed an “overweight” rating and set a $350.00 price target (down from $450.00) on shares of Lam Research in a research note on Thursday, July 30th. Bank of America restated a “buy” rating and issued a $345.00 target price on shares of Lam Research in a report on Thursday, October 22nd. TD Cowen restated a “buy” rating and set a $400.00 target price (up from $340.00) on shares of Lam Research in a research report on Thursday, July 9th. Berenberg Bank set a $420.00 price target on shares of Lam Research in a report on Wednesday, September 9th. Finally, Wall Street Zen upgraded Lam Research from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Twenty-six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $360.23.
Read Our Latest Research Report on Lam Research
Lam Research Profile
Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.
The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.
Read More
- Five stocks we like better than Lam Research
- Amazon’s Record Margins Couldn’t Stop the Sell-Off—Here’s Why
- DoorDash’s $17 Billion Bet on Instacart Faces a Long Regulatory Road Ahead
- FTC Puts A Wrinkle In the Cintas and UniFirst Merger
- Breaching the Valuation: The Real Reason Fortinet Dropped
Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Corporation (NASDAQ:LRCX – Free Report).
Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.
