Lam Research Corporation $LRCX Shares Newly Purchased by Partners Wealth Management LLC

Partners Wealth Management LLC acquired a new position in shares of Lam Research Corporation (NASDAQ:LRCX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,346 shares of the semiconductor company’s stock, valued at approximately $771,000.

Several other hedge funds have also bought and sold shares of LRCX. World Equity Group Inc. increased its stake in shares of Lam Research by 0.5% during the second quarter. World Equity Group Inc. now owns 5,576 shares of the semiconductor company’s stock valued at $2,416,000 after purchasing an additional 29 shares in the last quarter. Vann Equity Management LLC grew its stake in shares of Lam Research by 1.1% in the 3rd quarter. Vann Equity Management LLC now owns 2,873 shares of the semiconductor company’s stock worth $944,000 after buying an additional 31 shares during the last quarter. Tenzing Financial LLC increased its position in Lam Research by 3.5% during the 2nd quarter. Tenzing Financial LLC now owns 1,018 shares of the semiconductor company’s stock valued at $441,000 after buying an additional 34 shares in the last quarter. Advus Financial Partners LLC increased its position in Lam Research by 1.0% during the 2nd quarter. Advus Financial Partners LLC now owns 3,578 shares of the semiconductor company’s stock valued at $1,550,000 after buying an additional 34 shares in the last quarter. Finally, Paragon Private Wealth Management LLC increased its position in Lam Research by 1.3% during the 2nd quarter. Paragon Private Wealth Management LLC now owns 2,719 shares of the semiconductor company’s stock valued at $1,178,000 after buying an additional 35 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on LRCX shares. Weiss Ratings cut Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. B. Riley Financial increased their target price on Lam Research from $350.00 to $390.00 and gave the stock a “buy” rating in a research note on Thursday, October 1st. UBS Group restated a “buy” rating and set a $400.00 price target (down from $425.00) on shares of Lam Research in a report on Thursday, October 22nd. Citigroup reaffirmed a “buy” rating and issued a $435.00 price target (down from $450.00) on shares of Lam Research in a research report on Thursday, October 22nd. Finally, Fundamental Research set a $390.00 price target on Lam Research in a research report on Thursday, October 1st. Twenty-six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $360.23.

Insiders Place Their Bets

In other Lam Research news, insider Ava Harter sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $302.46, for a total value of $1,512,300.00. Following the completion of the transaction, the insider directly owned 42,462 shares in the company, valued at $12,843,056.52. This represents a 10.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 20,995 shares of the company’s stock, valued at approximately $6,607,966.30. This trade represents a 31.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.31% of the company’s stock.

Lam Research Trading Down 6.0%

NASDAQ:LRCX opened at $239.11 on Friday. The stock has a market cap of $298.69 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 0.94 and a beta of 1.85. The company has a quick ratio of 1.86, a current ratio of 2.48 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average price is $294.47 and its 200-day moving average price is $283.78. Lam Research Corporation has a 52 week low of $135.50 and a 52 week high of $438.50.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The firm’s revenue for the quarter was up 54.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 EPS. On average, equities research analysts forecast that Lam Research Corporation will post 9.59 earnings per share for the current fiscal year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.6%. This is a positive change from Lam Research’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, September 23rd. Lam Research’s dividend payout ratio (DPR) is presently 19.67%.

About Lam Research

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.