Legacy Capital Wealth Partners LLC Purchases Shares of 6,167 Lam Research Co. (NASDAQ:LRCX)

Legacy Capital Wealth Partners LLC purchased a new stake in Lam Research Co. (NASDAQ:LRCX) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,167 shares of the semiconductor company’s stock, valued at approximately $445,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Beacon Capital Management LLC boosted its position in Lam Research by 900.0% in the 4th quarter. Beacon Capital Management LLC now owns 970 shares of the semiconductor company’s stock valued at $70,000 after buying an additional 873 shares during the period. Peregrine Investment Management Inc. acquired a new stake in shares of Lam Research in the 4th quarter valued at $9,076,000. Montag A & Associates Inc. raised its holdings in shares of Lam Research by 916.4% in the 4th quarter. Montag A & Associates Inc. now owns 17,798 shares of the semiconductor company’s stock valued at $1,290,000 after purchasing an additional 16,047 shares in the last quarter. Congress Asset Management Co. raised its holdings in shares of Lam Research by 903.7% in the 4th quarter. Congress Asset Management Co. now owns 3,764 shares of the semiconductor company’s stock valued at $272,000 after purchasing an additional 3,389 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its holdings in shares of Lam Research by 900.0% in the 4th quarter. Salomon & Ludwin LLC now owns 15,870 shares of the semiconductor company’s stock valued at $1,146,000 after purchasing an additional 14,283 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Down 0.7 %

Lam Research stock opened at $82.75 on Monday. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The stock has a 50 day moving average of $77.48 and a two-hundred day moving average of $77.91. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $106.22 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 1.37 and a beta of 1.46.

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 analysts’ consensus estimates of $0.87 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. As a group, research analysts expect that Lam Research Co. will post 3.69 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.11%. Lam Research’s dividend payout ratio is currently 27.95%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $90.00 price objective on shares of Lam Research in a report on Thursday, January 30th. B. Riley reduced their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Cantor Fitzgerald upgraded shares of Lam Research from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $95.00 to $100.00 in a report on Thursday, January 30th. KeyCorp upgraded shares of Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective on the stock in a report on Friday, January 17th. Finally, Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $85.00 to $91.00 in a research note on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.72.

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.