Legacy Wealth Management LLC MS Makes New $513,000 Investment in Lam Research Co. (NASDAQ:LRCX)

Legacy Wealth Management LLC MS bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 629 shares of the semiconductor company’s stock, valued at approximately $513,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dantai Capital Ltd lifted its stake in shares of Lam Research by 44.6% in the 3rd quarter. Dantai Capital Ltd now owns 1,815 shares of the semiconductor company’s stock valued at $1,481,000 after acquiring an additional 560 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of Lam Research in the 3rd quarter valued at $362,000. Synovus Financial Corp lifted its stake in shares of Lam Research by 22.4% in the 3rd quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company’s stock valued at $2,508,000 after acquiring an additional 561 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Lam Research by 409.6% in the 3rd quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company’s stock valued at $30,538,000 after acquiring an additional 30,077 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its stake in shares of Lam Research by 383.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company’s stock valued at $3,711,000 after acquiring an additional 3,607 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

Shares of Lam Research stock traded down $0.01 during mid-day trading on Friday, hitting $75.57. 2,353,803 shares of the stock were exchanged, compared to its average volume of 11,207,575. 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 company has a market capitalization of $97.24 billion, a P/E ratio of 24.43, a P/E/G ratio of 1.25 and a beta of 1.46. The company has a 50-day simple moving average of $75.88 and a 200 day simple moving average of $85.57. Lam Research Co. has a 12 month low of $68.87 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the business earned $6.85 EPS. Lam Research’s revenue was up 19.7% compared to the same quarter last year. Sell-side analysts anticipate that Lam Research Co. will post 3.5 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

Wall Street Analyst Weigh In

LRCX has been the subject of a number of research reports. BNP Paribas upgraded Lam Research to a “hold” rating in a research note on Thursday, October 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Sanford C. Bernstein lowered their target price on Lam Research from $95.00 to $85.00 and set a “market perform” rating for the company in a research report on Friday, November 29th. Wells Fargo & Company decreased their price target on Lam Research from $85.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, December 6th. Finally, Citigroup decreased their price target on Lam Research from $99.00 to $89.30 and set a “buy” rating for the company in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and a consensus price target of $97.24.

Insider Buying and Selling

In other news, CAO Christina Correia sold 647 shares of the stock in a transaction dated Tuesday, October 1st. The shares were 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 represents a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by company insiders.

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.