Insight Wealth Strategies LLC Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Insight Wealth Strategies LLC increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 1,154.0% in the 4th quarter, Holdings Channel reports. The firm owned 103,703 shares of the semiconductor company’s stock after purchasing an additional 95,433 shares during the period. Lam Research accounts for approximately 1.0% of Insight Wealth Strategies LLC’s portfolio, making the stock its 25th largest position. Insight Wealth Strategies LLC’s holdings in Lam Research were worth $7,490,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Lantz Financial LLC acquired a new position in shares of Lam Research during the 2nd quarter worth approximately $212,000. Savant Capital LLC grew its holdings in Lam Research by 2.6% in the 2nd quarter. Savant Capital LLC now owns 3,387 shares of the semiconductor company’s stock valued at $3,606,000 after buying an additional 87 shares in the last quarter. Umpqua Bank raised its holdings in shares of Lam Research by 2.4% during the 2nd quarter. Umpqua Bank now owns 4,180 shares of the semiconductor company’s stock worth $4,451,000 after acquiring an additional 99 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Lam Research during the 2nd quarter valued at about $373,000. Finally, Acadian Asset Management LLC grew its holdings in shares of Lam Research by 1,128.1% in the second quarter. Acadian Asset Management LLC now owns 96,723 shares of the semiconductor company’s stock valued at $102,976,000 after purchasing an additional 88,847 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LRCX shares. Stifel Nicolaus reissued a “buy” rating and issued a $100.00 price target (down previously from $105.00) on shares of Lam Research in a research note on Thursday, October 24th. Morgan Stanley raised their price objective on Lam Research from $76.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. BNP Paribas raised shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. Finally, UBS Group lowered their price objective on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.24.

Lam Research Stock Up 3.8 %

NASDAQ:LRCX traded up $2.86 during mid-day trading on Monday, hitting $77.97. The stock had a trading volume of 7,802,288 shares, compared to its average volume of 8,200,734. Lam Research Co. has a twelve month low of $68.87 and a twelve month high of $113.00. The stock has a 50-day simple moving average of $74.62 and a two-hundred day simple moving average of $82.66. The company has a current ratio of 2.53, a quick ratio of 1.74 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $100.32 billion, a PE ratio of 25.20, a PEG ratio of 1.22 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The company’s revenue was up 19.7% on a year-over-year basis. During the same period last year, the business earned $6.85 EPS. On average, equities research analysts anticipate that Lam Research Co. will post 3.5 EPS for the current year.

Lam Research Announces Dividend

The firm 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 dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is presently 29.77%.

Lam Research Company 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.