Element Wealth LLC Takes Position in Lam Research Co. (NASDAQ:LRCX)

Element Wealth LLC acquired a new position in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 309 shares of the semiconductor company’s stock, valued at approximately $242,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LRCX. Orion Capital Management LLC bought a new stake in Lam Research in the 3rd quarter valued at approximately $25,000. BluePath Capital Management LLC bought a new stake in shares of Lam Research during the 3rd quarter worth $28,000. OFI Invest Asset Management bought a new stake in shares of Lam Research during the 3rd quarter worth $30,000. Asset Dedication LLC increased its holdings in Lam Research by 56.7% in the 3rd quarter. Asset Dedication LLC now owns 47 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 17 shares in the last quarter. Finally, Valued Wealth Advisors LLC acquired a new position in Lam Research in the 4th quarter worth about $30,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LRCX has been the subject of several recent research reports. Citigroup increased their price target on Lam Research from $800.00 to $975.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Mizuho raised their target price on Lam Research from $900.00 to $935.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. B. Riley raised Lam Research from a “neutral” rating to a “buy” rating and raised their target price for the stock from $870.00 to $1,100.00 in a research report on Friday. Susquehanna lifted their price target on Lam Research from $655.00 to $880.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Finally, Raymond James lifted their price target on Lam Research from $850.00 to $950.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $931.85.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now directly owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the transaction, the director now directly owns 10,541 shares of the company’s stock, valued at $10,246,168.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the transaction, the chief accounting officer now directly owns 5,541 shares in the company, valued at $5,386,018.23. The disclosure for this sale can be found here. Insiders have sold a total of 7,029 shares of company stock worth $6,559,489 in the last ninety days. 0.32% of the stock is owned by insiders.

Lam Research Trading Up 2.2 %

LRCX stock traded up $19.35 on Tuesday, hitting $887.42. 973,879 shares of the company were exchanged, compared to its average volume of 1,057,154. Lam Research Co. has a twelve month low of $493.42 and a twelve month high of $1,007.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.06 and a quick ratio of 2.02. The business’s fifty day moving average is $944.64 and its two-hundred day moving average is $804.00. The stock has a market capitalization of $116.34 billion, a price-to-earnings ratio of 33.57, a price-to-earnings-growth ratio of 3.15 and a beta of 1.51.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.46. The business had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.71 billion. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The business’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.71 earnings per share. As a group, research analysts forecast that Lam Research Co. will post 28.92 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.90%. Lam Research’s dividend payout ratio is presently 30.94%.

About Lam Research

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.