629 Shares in Lam Research Co. (NASDAQ:LRCX) Acquired by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 629 shares of the semiconductor company’s stock, valued at approximately $513,000.

Several other hedge funds and other institutional investors have also modified their holdings of LRCX. CarsonAllaria Wealth Management Ltd. bought a new position in Lam Research in the 2nd quarter valued at $32,000. RFP Financial Group LLC increased its stake in shares of Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 12 shares during the period. Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research in the 2nd quarter valued at $40,000. MFA Wealth Advisors LLC acquired a new stake in shares of Lam Research in the 2nd quarter valued at $45,000. Finally, ORG Partners LLC acquired a new stake in shares of Lam Research in the 2nd quarter valued at $65,000. Institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on LRCX. B. Riley lowered their target price on Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. UBS Group lowered their target price on Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Mizuho decreased their price objective on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $100.00 target price (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Eight analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.24.

Insider Activity

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares of the company’s stock, valued at $3,488,315.17. This represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Lam Research Stock Down 0.0 %

LRCX traded down $0.01 on Friday, hitting $75.57. 2,353,803 shares of the company were exchanged, compared to its average volume of 11,207,575. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00. The company has a market cap of $97.24 billion, a PE ratio of 24.43, a PEG ratio of 1.25 and a beta of 1.46. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The stock’s fifty day moving average is $75.88 and its 200-day moving average is $85.57.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. Lam Research’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.85 earnings per share. Equities research analysts predict that Lam Research Co. will post 3.5 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.74%.

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.