Alta Wealth Advisors LLC Takes Position in Lam Research Corporation $LRCX

Alta Wealth Advisors LLC bought a new position in shares of Lam Research Corporation (NASDAQ:LRCX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,066 shares of the semiconductor company’s stock, valued at approximately $1,750,000.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LRCX shares. Wells Fargo & Company set a $250.00 target price on Lam Research and gave the company an “overweight” rating in a report on Thursday, January 15th. BNP Paribas Exane lifted their price objective on Lam Research from $80.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Needham & Company LLC reiterated a “buy” rating and set a $250.00 target price (up previously from $160.00) on shares of Lam Research in a report on Tuesday, January 20th. Susquehanna restated a “positive” rating and issued a $250.00 price target on shares of Lam Research in a report on Monday, January 12th. Finally, Stifel Nicolaus boosted their price objective on shares of Lam Research from $160.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.81.

Insider Activity at Lam Research

In other Lam Research news, Director Bethany Mayer sold 1,298 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $159.99, for a total value of $207,667.02. Following the transaction, the director directly owned 1,652 shares of the company’s stock, valued at $264,303.48. This represents a 44.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Douglas R. Bettinger sold 40,080 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 987,237 shares of the company’s stock, valued at approximately $148,677,892.20. This trade represents a 3.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,408 shares of company stock worth $6,248,501 over the last 90 days. 0.31% of the stock is owned by company insiders.

Lam Research Stock Performance

NASDAQ:LRCX opened at $222.87 on Tuesday. The firm has a 50-day moving average of $179.59 and a two-hundred day moving average of $142.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.21 and a quick ratio of 1.60. The stock has a market cap of $279.93 billion, a P/E ratio of 49.09, a PEG ratio of 2.76 and a beta of 1.77. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $236.10.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 7th. Shareholders of record on Wednesday, December 3rd were paid a dividend of $0.26 per share. 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 dividend payout ratio (DPR) is 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.