Lam Research Corporation $LRCX Stock Bought by Greenup Street Wealth Management LLC

Greenup Street Wealth Management LLC increased its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 504.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,479 shares of the semiconductor company’s stock after buying an additional 9,579 shares during the quarter. Greenup Street Wealth Management LLC’s holdings in Lam Research were worth $3,771,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Whelan Financial boosted its holdings in Lam Research by 7.9% during the third quarter. Whelan Financial now owns 3,103 shares of the semiconductor company’s stock worth $1,019,000 after purchasing an additional 226 shares during the last quarter. International Assets Investment Management LLC grew its position in Lam Research by 486.1% in the 3rd quarter. International Assets Investment Management LLC now owns 40,000 shares of the semiconductor company’s stock worth $13,140,000 after purchasing an additional 33,175 shares in the last quarter. Payden & Rygel bought a new stake in Lam Research in the 3rd quarter worth about $158,000. Lebenthal Global Advisors LLC grew its position in Lam Research by 12.5% in the 3rd quarter. Lebenthal Global Advisors LLC now owns 4,759 shares of the semiconductor company’s stock worth $1,563,000 after purchasing an additional 530 shares in the last quarter. Finally, Brian Low Financial Group LLC purchased a new stake in Lam Research in the 3rd quarter valued at about $1,715,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on LRCX. Stifel Nicolaus lifted their target price on shares of Lam Research from $325.00 to $425.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Needham & Company LLC cut their target price on Lam Research from $390.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, October 22nd. Wall Street Zen raised Lam Research from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. HSBC reaffirmed a “hold” rating and set a $333.00 price target on shares of Lam Research in a research report on Monday, July 27th. Finally, Bank of America reaffirmed a “buy” rating and set a $345.00 price target on shares of Lam Research in a research report on Thursday, October 22nd. Twenty-six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $360.23.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $239.11 on Friday. The company has a market capitalization of $298.69 billion, a P/E ratio of 35.63, a price-to-earnings-growth ratio of 0.94 and a beta of 1.85. The company’s 50-day moving average is $294.47 and its 200 day moving average is $283.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48. Lam Research Corporation has a fifty-two week low of $135.50 and a fifty-two week high of $438.50.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.02. The business had revenue of $8.22 billion during the quarter, compared to the consensus estimate of $8.14 billion. Lam Research had a net margin of 32.34% and a return on equity of 72.15%. The firm’s quarterly revenue was up 54.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 earnings per share. On average, equities research analysts forecast that Lam Research Corporation will post 9.59 earnings per share for the current year.

Lam Research Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 14th. Stockholders of record on Wednesday, September 23rd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, September 23rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from Lam Research’s previous quarterly dividend of $0.26. Lam Research’s payout ratio is currently 19.67%.

Insider Buying and Selling

In other news, Director Bethany Mayer sold 9,557 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the completion of the sale, the director owned 20,995 shares in the company, valued at $6,607,966.30. This trade represents a 31.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ava Harter sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the sale, the insider owned 42,462 shares of the company’s stock, valued at approximately $12,843,056.52. The trade was a 10.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.31% of the stock is owned by corporate insiders.

Lam Research Company Profile

Lam Research Corporation (NASDAQ:LRCX) is a semiconductor equipment company that develops and manufactures systems used to fabricate integrated circuits. Its technologies support key stages of wafer processing, helping semiconductor manufacturers create the increasingly complex structures found in memory, logic and other types of chips.

The company’s product portfolio includes etch systems, which selectively remove materials from wafers; deposition systems, which apply thin films; and cleaning solutions used to remove contaminants and residue during manufacturing.