11,325 Lam Research Corporation $LRCX Shares Bought by MGO One Seven LLC

MGO One Seven LLC grew its position in Lam Research Corporation (NASDAQ:LRCX) by 23.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,625 shares of the semiconductor company’s stock after purchasing an additional 11,325 shares during the quarter. MGO One Seven LLC’s holdings in Lam Research were worth $19,259,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Paladin Partners LLC acquired a new stake in Lam Research in the second quarter valued at $26,000. William Mack & Associates Inc. acquired a new position in shares of Lam Research during the 3rd quarter worth about $25,000. Dakota Community Bank & Trust NA acquired a new position in shares of Lam Research during the 3rd quarter worth about $33,000. Quintet Private Bank Europe S.A. boosted its position in shares of Lam Research by 100.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 100 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 50 shares in the last quarter. Finally, Bravera Wealth purchased a new position in shares of Lam Research in the 2nd quarter valued at about $46,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lam Research

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LRCX shares. Weiss Ratings cut Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Morgan Stanley set a $339.00 price target on Lam Research and gave the company an “overweight” rating in a report on Thursday, October 22nd. Bank of America reiterated a “buy” rating and issued a $345.00 price target on shares of Lam Research in a research note on Thursday, October 22nd. Stifel Nicolaus raised their price objective on shares of Lam Research from $325.00 to $425.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, UBS Group restated a “buy” rating and set a $400.00 price objective (down from $425.00) 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 given a Hold rating to the company. According to data from MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $360.23.

Lam Research Stock Down 6.0%

LRCX opened at $239.11 on Friday. The business’s 50-day simple moving average is $294.47 and its 200-day simple 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 one year low of $135.50 and a one year high of $438.50. The stock has a market capitalization of $298.69 billion, a P/E ratio of 35.63, a price-to-earnings-growth ratio of 0.89 and a beta of 1.85.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 72.15% and a net margin of 32.34%. The business’s quarterly revenue was up 54.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 EPS. Analysts anticipate that Lam Research Corporation will post 9.59 EPS for the current year.

Lam Research Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 23rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.6%. This is a positive change from Lam Research’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, September 23rd. Lam Research’s dividend payout ratio is presently 19.67%.

Lam Research 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.