Tyche Wealth Partners LLC Acquires 172 Shares of Lam Research Co. (NASDAQ:LRCX)

Tyche Wealth Partners LLC lifted its position in shares of Lam Research Co. (NASDAQ:LRCX) by 37.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 634 shares of the semiconductor company’s stock after purchasing an additional 172 shares during the period. Tyche Wealth Partners LLC’s holdings in Lam Research were worth $517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in LRCX. Brookstone Capital Management grew its holdings in Lam Research by 4.6% during the first quarter. Brookstone Capital Management now owns 660 shares of the semiconductor company’s stock valued at $641,000 after purchasing an additional 29 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in shares of Lam Research by 16.1% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 910 shares of the semiconductor company’s stock worth $884,000 after purchasing an additional 126 shares during the last quarter. Miracle Mile Advisors LLC boosted its position in Lam Research by 2.0% during the 1st quarter. Miracle Mile Advisors LLC now owns 752 shares of the semiconductor company’s stock valued at $731,000 after acquiring an additional 15 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in shares of Lam Research by 1.2% during the first quarter. Farmers & Merchants Investments Inc. now owns 2,211 shares of the semiconductor company’s stock valued at $2,148,000 after purchasing an additional 26 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its stake in Lam Research by 69.5% during the 1st quarter. Capital Advisors Ltd. LLC now owns 395 shares of the semiconductor company’s stock valued at $384,000 after buying an additional 162 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Insider Transactions at Lam Research

In related news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the sale, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.32% of the company’s stock.

Lam Research Stock Performance

LRCX stock traded up $1.04 during midday trading on Tuesday, reaching $76.49. The stock had a trading volume of 2,144,622 shares, compared to its average volume of 11,242,551. The firm has a fifty day simple moving average of $78.98 and a two-hundred day simple moving average of $89.51. The stock has a market cap of $10.00 billion, a PE ratio of 2.81, a P/E/G ratio of 1.89 and a beta of 1.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. Lam Research Co. has a 52-week low of $57.44 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.85 EPS. As a group, equities research analysts anticipate that Lam Research Co. will post 3.23 EPS for the current year.

Lam Research Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.92 annualized dividend and a dividend yield of 1.20%. Lam Research’s dividend payout ratio (DPR) is 3.38%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. UBS Group decreased their target price on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Morgan Stanley reduced their target price on shares of Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. BNP Paribas raised shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company lowered their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.03.

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.