Dynasty Wealth Management LLC Buys New Position in Lam Research Corporation $LRCX

Dynasty Wealth Management LLC purchased a new position in Lam Research Corporation (NASDAQ:LRCX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,731 shares of the semiconductor company’s stock, valued at approximately $633,000.

Other hedge funds have also added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new stake in shares of Lam Research in the 2nd quarter worth about $26,000. Howard Hughes Medical Institute bought a new position in Lam Research in the second quarter worth about $27,000. Sound Income Strategies LLC bought a new position in Lam Research in the third quarter worth about $41,000. Tripletail Wealth Management LLC purchased a new stake in Lam Research in the third quarter worth about $44,000. Finally, Strategic Wealth Investment Group LLC bought a new stake in Lam Research during the 2nd quarter valued at approximately $29,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lam Research

In other news, insider Ava Harter sold 9,010 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $157.47, for a total transaction of $1,418,804.70. Following the transaction, the insider directly owned 56,786 shares of the company’s stock, valued at $8,942,091.42. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Douglas R. Bettinger sold 40,080 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $150.60, for a total value of $6,036,048.00. Following the sale, the chief financial officer directly owned 987,237 shares in the company, valued at $148,677,892.20. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 50,418 shares of company stock valued at $7,667,305. 0.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LRCX. New Street Research increased their target price on Lam Research from $105.00 to $140.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Susquehanna reiterated a “positive” rating and issued a $250.00 price objective on shares of Lam Research in a report on Monday, January 12th. HSBC raised their price objective on Lam Research from $127.00 to $181.00 and gave the company a “hold” rating in a research report on Friday, January 9th. Wall Street Zen downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Zacks Research cut shares of Lam Research from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Twenty-eight equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $194.23.

Lam Research Stock Performance

Shares of LRCX stock opened at $222.41 on Wednesday. The company has a market capitalization of $279.35 billion, a price-to-earnings ratio of 48.99, a price-to-earnings-growth ratio of 2.55 and a beta of 1.77. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 2.21. Lam Research Corporation has a one year low of $56.32 and a one year high of $229.57. The company’s 50-day moving average is $174.00 and its 200 day moving average is $139.28.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 22nd. The semiconductor company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.04. The business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Lam Research had a net margin of 29.66% and a return on equity of 60.60%. The business’s revenue for the quarter was up 27.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. Sell-side analysts expect that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 7th. Investors of record on Wednesday, December 3rd were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, December 3rd. Lam Research’s payout ratio is presently 22.91%.

About Lam Research

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.