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

Insight Wealth Partners LLC purchased a new stake in Lam Research Co. (NASDAQ:LRCX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 247 shares of the semiconductor company’s stock, valued at approximately $202,000.

A number of other hedge funds have also modified their holdings of LRCX. Van ECK Associates Corp grew its holdings in Lam Research by 1,394.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,081,071 shares of the semiconductor company’s stock valued at $13,123,440,000 after buying an additional 15,005,178 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Lam Research by 0.6% in the third quarter. Fisher Asset Management LLC now owns 1,871,473 shares of the semiconductor company’s stock valued at $1,527,273,000 after acquiring an additional 11,093 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after purchasing an additional 89,470 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Lam Research by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 822,599 shares of the semiconductor company’s stock valued at $671,307,000 after purchasing an additional 10,868 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Lam Research by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock valued at $654,009,000 after purchasing an additional 25,362 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LRCX has been the topic of several analyst reports. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a report on Thursday, October 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $100.00 price target (down from $105.00) on shares of Lam Research in a report on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 price target on shares of Lam Research in a report on Thursday, October 24th. Wells Fargo & Company decreased their price objective on Lam Research from $88.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, October 24th. Finally, B. Riley reduced their target price 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. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.97.

Insider Activity at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $817.51, for a total transaction of $528,928.97. Following the transaction, the chief accounting officer now directly owns 4,267 shares in the company, valued at $3,488,315.17. This represents a 13.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.29% of the stock is currently owned by company insiders.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $72.69 on Wednesday. The business’s 50-day simple moving average is $76.80 and its 200 day simple moving average is $87.04. The company has a market cap of $93.53 billion, a P/E ratio of 23.49, a PEG ratio of 1.17 and a beta of 1.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. Lam Research Co. has a one year low of $68.72 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the previous year, the company posted $6.85 earnings per share. On average, sell-side analysts forecast that Lam Research Co. will post 3.52 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Wednesday, December 11th. Lam Research’s dividend payout ratio (DPR) is 29.74%.

About Lam Research

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.