Meridian Wealth Management LLC Invests $778,000 in Lam Research Co. (NASDAQ:LRCX)

Meridian Wealth Management LLC acquired a new stake in Lam Research Co. (NASDAQ:LRCX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 953 shares of the semiconductor company’s stock, valued at approximately $778,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LRCX. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Lam Research during the 2nd quarter worth $32,000. RFP Financial Group LLC lifted its holdings in shares of Lam Research by 52.2% in the second quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 12 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Lam Research in the second quarter valued at approximately $40,000. Country Trust Bank purchased a new position in shares of Lam Research during the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Lam Research during the 2nd quarter worth approximately $45,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on LRCX. TD Cowen raised their price target on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 target price on shares of Lam Research in a research note on Thursday, October 24th. StockNews.com cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Lam Research from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Wells Fargo & Company decreased their target price on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.97.

Lam Research Trading Down 0.7 %

NASDAQ LRCX opened at $72.64 on Friday. The firm has a market capitalization of $93.47 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 1.16 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research Co. has a one year low of $68.72 and a one year high of $113.00. The company’s 50 day moving average price is $76.93 and its 200 day moving average price is $87.32.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS 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 for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the firm posted $6.85 EPS. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, sell-side analysts predict that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Wednesday, December 11th. Lam Research’s payout ratio is 29.74%.

Insider Activity

In other Lam Research news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 13.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

About Lam Research

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.