Formidable Asset Management LLC Takes Position in Lam Research Corporation $LRCX

Formidable Asset Management LLC purchased a new stake in Lam Research Corporation (NASDAQ:LRCX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,310 shares of the semiconductor company’s stock, valued at approximately $309,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IMG Wealth Management Inc. acquired a new stake in shares of Lam Research in the 2nd quarter worth $26,000. Howard Hughes Medical Institute purchased a new stake in shares of Lam Research in the second quarter valued at about $27,000. Strategic Wealth Investment Group LLC purchased a new stake in shares of Lam Research in the second quarter valued at about $29,000. Delos Wealth Advisors LLC acquired a new stake in Lam Research during the second quarter worth about $30,000. Finally, REAP Financial Group LLC acquired a new stake in Lam Research during the second quarter worth about $31,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LRCX. BNP Paribas Exane increased their price target on shares of Lam Research from $80.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Zacks Research lowered Lam Research from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Rothschild & Co Redburn raised their target price on Lam Research from $150.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Mizuho set a $220.00 price target on Lam Research and gave the company an “outperform” rating in a research note on Friday, January 9th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $200.00 price objective (up from $175.00) on shares of Lam Research in a research report on Monday, December 15th. Twenty-eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $194.23.

Insiders Place Their Bets

In related news, insider Ava Harter sold 9,010 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $157.47, for a total transaction of $1,418,804.70. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bethany Mayer sold 1,298 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $159.99, for a total transaction of $207,667.02. Following the sale, the director owned 1,652 shares in the company, valued at approximately $264,303.48. This trade represents a 44.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 50,418 shares of company stock worth $7,667,305 over the last three months. Company insiders own 0.31% of the company’s stock.

Lam Research Stock Down 0.2%

Shares of NASDAQ LRCX opened at $222.41 on Wednesday. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $229.57. The business’s 50 day moving average is $174.00 and its two-hundred day moving average is $139.28. The firm has a market cap of $279.35 billion, a price-to-earnings ratio of 48.99, a PEG ratio of 2.55 and a beta of 1.77. The company has a quick ratio of 1.60, a current ratio of 2.21 and a debt-to-equity ratio of 0.37.

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

Lam Research Dividend Announcement

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

Lam Research Profile

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.