879 Shares in Lam Research Co. (NASDAQ:LRCX) Acquired by National Wealth Management Group LLC

National Wealth Management Group LLC acquired a new position in Lam Research Co. (NASDAQ:LRCX) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 879 shares of the semiconductor company’s stock, valued at approximately $717,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Blueshift Asset Management LLC bought a new position in Lam Research in the 3rd quarter worth approximately $770,000. Bridgewater Associates LP grew its holdings in Lam Research by 315.0% in the 3rd quarter. Bridgewater Associates LP now owns 276,052 shares of the semiconductor company’s stock worth $225,281,000 after buying an additional 209,537 shares in the last quarter. Insight Wealth Partners LLC bought a new position in Lam Research during the 3rd quarter valued at $202,000. Townsquare Capital LLC boosted its stake in Lam Research by 20.9% during the 3rd quarter. Townsquare Capital LLC now owns 7,591 shares of the semiconductor company’s stock valued at $6,195,000 after purchasing an additional 1,310 shares in the last quarter. Finally, Baldwin Investment Management LLC boosted its stake in Lam Research by 1.4% during the 3rd quarter. Baldwin Investment Management LLC now owns 10,249 shares of the semiconductor company’s stock valued at $8,364,000 after purchasing an additional 137 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

LRCX opened at $71.57 on Thursday. The stock has a fifty day moving average of $76.70 and a 200-day moving average of $86.90. The firm has a market capitalization of $92.09 billion, a P/E ratio of 23.13, a PEG ratio of 1.17 and a beta of 1.48. Lam Research Co. has a 12-month low of $68.72 and a 12-month high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53.

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, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the company earned $6.85 earnings per share. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. Equities analysts forecast that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, December 11th. This represents a $0.92 annualized dividend and a dividend yield of 1.29%. Lam Research’s dividend payout ratio is 29.74%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Stifel Nicolaus reaffirmed a “buy” rating and set a $100.00 price target (down from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Citigroup decreased their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a research note on Monday, September 16th. Morgan Stanley decreased their price target on Lam Research from $81.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.97.

Insider Buying and Selling

In related news, CAO Christina Correia sold 647 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 4,267 shares in the company, valued at approximately $3,488,315.17. This trade represents a 13.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.29% of the stock is owned by corporate insiders.

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.