Legacy Financial Advisors Inc. Purchases 26 Shares of Lam Research Co. (NASDAQ:LRCX)

Legacy Financial Advisors Inc. lifted its position in Lam Research Co. (NASDAQ:LRCX) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 461 shares of the semiconductor company’s stock after buying an additional 26 shares during the period. Legacy Financial Advisors Inc.’s holdings in Lam Research were worth $361,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Fisher Asset Management LLC raised its holdings in shares of Lam Research by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 2,972,650 shares of the semiconductor company’s stock valued at $2,328,358,000 after purchasing an additional 85,855 shares during the last quarter. Morgan Stanley grew its holdings in shares of Lam Research by 3.2% in the third quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock worth $1,164,490,000 after acquiring an additional 56,824 shares during the period. Northern Trust Corp lifted its holdings in Lam Research by 9.7% in the third quarter. Northern Trust Corp now owns 1,523,215 shares of the semiconductor company’s stock valued at $954,705,000 after acquiring an additional 134,558 shares during the period. Van ECK Associates Corp grew its stake in shares of Lam Research by 12.3% during the 4th quarter. Van ECK Associates Corp now owns 776,885 shares of the semiconductor company’s stock valued at $608,503,000 after purchasing an additional 85,102 shares during the period. Finally, WCM Investment Management LLC lifted its stake in shares of Lam Research by 0.6% in the 4th quarter. WCM Investment Management LLC now owns 600,594 shares of the semiconductor company’s stock worth $474,271,000 after purchasing an additional 3,717 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LRCX. UBS Group lifted their target price on Lam Research from $1,130.00 to $1,150.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and set a $1,030.00 target price on shares of Lam Research in a research note on Thursday, April 25th. Evercore ISI began coverage on Lam Research in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,200.00 price target on the stock. The Goldman Sachs Group lifted their target price on Lam Research from $700.00 to $912.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, TD Cowen lifted their price objective on shares of Lam Research from $975.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $950.85.

Insiders Place Their Bets

In related news, EVP Patrick J. Lord sold 60 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $921.54, for a total transaction of $55,292.40. Following the completion of the sale, the executive vice president now owns 4,454 shares of the company’s stock, valued at $4,104,539.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Abhijit Y. Talwalkar sold 882 shares of Lam Research stock in a transaction on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the sale, the director now directly owns 10,541 shares in the company, valued at $10,246,168.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick J. Lord sold 60 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $921.54, for a total value of $55,292.40. Following the completion of the transaction, the executive vice president now directly owns 4,454 shares in the company, valued at $4,104,539.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,089 shares of company stock worth $6,614,781. 0.32% of the stock is owned by corporate insiders.

Lam Research Trading Up 2.8 %

LRCX traded up $24.85 during trading on Friday, hitting $908.53. 875,385 shares of the stock were exchanged, compared to its average volume of 1,105,338. Lam Research Co. has a 1 year low of $507.19 and a 1 year high of $1,007.39. The firm has a market cap of $119.11 billion, a price-to-earnings ratio of 33.41, a P/E/G ratio of 2.82 and a beta of 1.51. The firm has a 50 day simple moving average of $941.31 and a 200 day simple moving average of $817.83. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.84 and a current ratio of 2.82.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The company had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the business earned $6.99 EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts expect that Lam Research Co. will post 29.62 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 annualized dividend and a yield of 0.88%. Lam Research’s dividend payout ratio (DPR) is presently 29.42%.

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.