Net Worth Advisory Group Acquires Shares of 6,333 Lam Research Co. (NASDAQ:LRCX)

Net Worth Advisory Group bought a new position in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,333 shares of the semiconductor company’s stock, valued at approximately $457,000.

A number of other large investors also recently modified their holdings of the stock. Axxcess Wealth Management LLC lifted its stake in shares of Lam Research by 37.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,080 shares of the semiconductor company’s stock valued at $881,000 after purchasing an additional 295 shares during the period. Apollon Wealth Management LLC grew its holdings in shares of Lam Research by 5.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 3,259 shares of the semiconductor company’s stock valued at $2,660,000 after buying an additional 155 shares during the period. Entropy Technologies LP acquired a new stake in Lam Research during the 3rd quarter worth $12,584,000. GSA Capital Partners LLP grew its stake in Lam Research by 471.8% in the third quarter. GSA Capital Partners LLP now owns 2,659 shares of the semiconductor company’s stock valued at $2,170,000 after acquiring an additional 2,194 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Lam Research by 132.1% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 889 shares of the semiconductor company’s stock valued at $743,000 after purchasing an additional 506 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 15th. KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 target price for the company in a report on Friday, January 17th. Mizuho boosted their price target on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. The Goldman Sachs Group reduced their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Morgan Stanley lifted their target price on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $98.22.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $73.36 on Wednesday. The business’s 50 day moving average is $79.35 and its 200-day moving average is $77.52. The firm has a market cap of $94.17 billion, a P/E ratio of 22.28, a price-to-earnings-growth ratio of 1.47 and a beta of 1.53. Lam Research Co. has a 1-year low of $68.87 and a 1-year high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. Equities research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Wednesday, March 5th. Lam Research’s dividend payout ratio is currently 27.96%.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. This represents a 38.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.29% of the company’s stock.

Lam Research 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.