Element Wealth LLC Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Element Wealth LLC purchased a new stake in Lam Research Co. (NASDAQ:LRCX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 309 shares of the semiconductor company’s stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Morgan Stanley boosted its holdings in shares of Lam Research by 3.2% during the 3rd quarter. Morgan Stanley now owns 1,857,918 shares of the semiconductor company’s stock valued at $1,164,490,000 after acquiring an additional 56,824 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Lam Research by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company’s stock valued at $1,029,386,000 after acquiring an additional 159,815 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Lam Research by 9.7% during the 3rd 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 in the last quarter. WCM Investment Management LLC lifted its holdings in Lam Research by 0.6% during the 4th quarter. WCM Investment Management LLC now owns 600,594 shares of the semiconductor company’s stock worth $474,271,000 after buying an additional 3,717 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Lam Research by 12.0% during the 4th quarter. Nordea Investment Management AB now owns 453,787 shares of the semiconductor company’s stock worth $355,025,000 after buying an additional 48,482 shares during the period. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX stock traded up $19.35 during mid-day trading on Tuesday, reaching $887.42. 973,879 shares of the company’s stock traded hands, compared to its average volume of 1,057,154. The firm has a market capitalization of $116.34 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 3.15 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.02 and a current ratio of 3.06. The firm has a 50 day moving average price of $944.64 and a two-hundred day moving average price of $804.00. Lam Research Co. has a 12 month low of $493.42 and a 12 month high of $1,007.39.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 24th. The semiconductor company reported $7.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.06 by $0.46. Lam Research had a net margin of 24.15% and a return on equity of 44.47%. The firm had revenue of $3.76 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the prior year, the company earned $10.71 EPS. The business’s revenue was down 28.8% compared to the same quarter last year. On average, research analysts forecast that Lam Research Co. will post 28.92 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.90%. Lam Research’s dividend payout ratio is presently 30.94%.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at $20,380,648.95. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $972.03, for a total transaction of $628,903.41. Following the completion of the transaction, the chief accounting officer now owns 5,541 shares in the company, valued at approximately $5,386,018.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Seshasayee Varadarajan sold 5,500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the completion of the transaction, the senior vice president now owns 22,095 shares of the company’s stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,029 shares of company stock worth $6,559,489. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on LRCX shares. Wells Fargo & Company lifted their target price on Lam Research from $930.00 to $980.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Citigroup lifted their target price on Lam Research from $800.00 to $975.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Evercore ISI assumed coverage on Lam Research in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,200.00 price objective on the stock. Stifel Nicolaus boosted their price objective on Lam Research from $950.00 to $1,050.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Barclays boosted their target price on Lam Research from $750.00 to $825.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $931.85.

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.