Legacy Wealth Asset Management LLC Acquires Shares of 12,995 Lam Research Co. (NASDAQ:LRCX)

Legacy Wealth Asset Management LLC bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,995 shares of the semiconductor company’s stock, valued at approximately $939,000.

Several other hedge funds have also modified their holdings of the stock. Gabelli Funds LLC lifted its holdings in Lam Research by 5.6% during the 2nd quarter. Gabelli Funds LLC now owns 300 shares of the semiconductor company’s stock worth $319,000 after buying an additional 16 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of Lam Research by 5.6% during the second quarter. Benjamin Edwards Inc. now owns 320 shares of the semiconductor company’s stock worth $341,000 after acquiring an additional 17 shares during the last quarter. Insigneo Advisory Services LLC lifted its stake in shares of Lam Research by 2.6% during the second quarter. Insigneo Advisory Services LLC now owns 907 shares of the semiconductor company’s stock valued at $966,000 after acquiring an additional 23 shares during the period. Stock Yards Bank & Trust Co. boosted its holdings in Lam Research by 8.6% in the second quarter. Stock Yards Bank & Trust Co. now owns 316 shares of the semiconductor company’s stock valued at $336,000 after acquiring an additional 25 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Lam Research by 7.6% in the second quarter. EverSource Wealth Advisors LLC now owns 380 shares of the semiconductor company’s stock worth $405,000 after purchasing an additional 27 shares during the period. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on LRCX. StockNews.com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Wolfe Research cut shares of Lam Research from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. B. Riley lowered their target price on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Mizuho cut their price target on Lam Research from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Finally, The Goldman Sachs Group decreased their price objective on Lam Research from $96.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.59.

Lam Research Price Performance

Shares of LRCX opened at $79.22 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.74 and a current ratio of 2.53. The firm has a market capitalization of $101.93 billion, a PE ratio of 25.60, a P/E/G ratio of 1.37 and a beta of 1.45. The stock has a 50 day simple moving average of $74.68 and a 200 day simple moving average of $81.00. Lam Research Co. has a 52-week low of $68.87 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. The company’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.85 EPS. Sell-side analysts predict that Lam Research Co. will post 3.51 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Wednesday, December 11th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.74%.

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.