MGO One Seven LLC Invests $1.14 Million in Lam Research Co. (NASDAQ:LRCX)

MGO One Seven LLC purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 15,841 shares of the semiconductor company’s stock, valued at approximately $1,144,000.

A number of other institutional investors also recently bought and sold shares of LRCX. Pine Valley Investments Ltd Liability Co grew its holdings in shares of Lam Research by 48.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company’s stock worth $9,364,000 after acquiring an additional 3,732 shares during the period. Arvest Bank Trust Division bought a new stake in shares of Lam Research during the third quarter valued at approximately $18,106,000. Wilmington Savings Fund Society FSB grew its stake in Lam Research by 383.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company’s stock worth $3,711,000 after purchasing an additional 3,607 shares during the period. Tidal Investments LLC raised its holdings in Lam Research by 409.6% in the third quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company’s stock worth $30,538,000 after purchasing an additional 30,077 shares in the last quarter. Finally, Synovus Financial Corp lifted its position in Lam Research by 22.4% during the third quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company’s stock valued at $2,508,000 after buying an additional 561 shares during the period. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LRCX shares. Evercore ISI upped their target price on shares of Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a research report on Thursday. TD Cowen cut their price objective on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday. Sanford C. Bernstein upgraded shares of Lam Research from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $85.00 to $91.00 in a report on Thursday, January 30th. Wells Fargo & Company cut their price target on Lam Research from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, KeyCorp upgraded Lam Research from a “sector weight” rating to an “overweight” rating and set a $95.00 price objective for the company in a research note on Friday, January 17th. Six analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, Lam Research has a consensus rating of “Moderate Buy” and an average target price of $92.70.

Insider Activity

In other Lam Research news, SVP Seshasayee Varadarajan sold 110,080 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total transaction of $9,907,200.00. Following the completion of the sale, the senior vice president now owns 179,084 shares of the company’s stock, valued at approximately $16,117,560. The trade was a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.29% of the company’s stock.

Lam Research Stock Up 0.7 %

Shares of Lam Research stock opened at $71.42 on Friday. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The company has a market cap of $91.68 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. The company’s 50 day moving average is $73.15 and its 200 day moving average is $75.48.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. Research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.23 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.29%. Lam Research’s dividend payout ratio is currently 27.96%.

Lam Research Profile

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.