National Wealth Management Group LLC Makes New $717,000 Investment in Lam Research Co. (NASDAQ:LRCX)

National Wealth Management Group LLC bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 879 shares of the semiconductor company’s stock, valued at approximately $717,000.

Several other hedge funds have also recently bought and sold shares of the business. Van ECK Associates Corp grew its position in shares of Lam Research by 1,394.7% in the third quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after purchasing an additional 15,005,178 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its position in shares of Lam Research by 994.1% in the third quarter. Foster Victor Wealth Advisors LLC now owns 232,901 shares of the semiconductor company’s stock valued at $190,066,000 after purchasing an additional 211,614 shares during the last quarter. Bridgewater Associates LP grew its position in shares of Lam Research by 315.0% in the third quarter. Bridgewater Associates LP now owns 276,052 shares of the semiconductor company’s stock valued at $225,281,000 after purchasing an additional 209,537 shares during the last quarter. Panagora Asset Management Inc. grew its position in shares of Lam Research by 208.2% in the second quarter. Panagora Asset Management Inc. now owns 175,616 shares of the semiconductor company’s stock valued at $187,005,000 after purchasing an additional 118,634 shares during the last quarter. Finally, Tairen Capital Ltd grew its position in shares of Lam Research by 199.5% in the second quarter. Tairen Capital Ltd now owns 163,605 shares of the semiconductor company’s stock valued at $174,215,000 after purchasing an additional 108,973 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Down 1.5 %

Shares of LRCX opened at $71.57 on Thursday. The stock has a market cap of $92.09 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 1.17 and a beta of 1.48. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. Lam Research Co. has a 12 month low of $68.72 and a 12 month high of $113.00. The company has a 50-day moving average price of $76.70 and a two-hundred day moving average price of $86.90.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (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 company had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the previous year, the company posted $6.85 earnings per share. Lam Research’s quarterly revenue was up 19.7% compared to the same quarter last year. Equities analysts predict that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is currently 29.74%.

Insider Activity

In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 approximately $3,488,315.17. The trade was a 13.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LRCX shares. B. Riley lowered their price target on Lam Research from $132.50 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. TD Cowen lifted their target price on Lam Research from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley decreased their target price on Lam Research from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company decreased their target price on 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. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 target price on shares of Lam Research in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $97.97.

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.