MGO One Seven LLC Takes $1.14 Million Position in Lam Research Co. (NASDAQ:LRCX)

MGO One Seven LLC purchased a new position in Lam Research Co. (NASDAQ:LRCX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,841 shares of the semiconductor company's stock, valued at approximately $1,144,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Pine Valley Investments Ltd Liability Co increased its stake in shares of Lam Research by 48.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 11,464 shares of the semiconductor company's stock worth $9,364,000 after purchasing an additional 3,732 shares during the last quarter. Arvest Bank Trust Division bought a new position in Lam Research during the third quarter valued at $18,106,000. Wilmington Savings Fund Society FSB increased its position in Lam Research by 383.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 4,547 shares of the semiconductor company's stock worth $3,711,000 after buying an additional 3,607 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Lam Research by 409.6% in the third quarter. Tidal Investments LLC now owns 37,420 shares of the semiconductor company's stock valued at $30,538,000 after buying an additional 30,077 shares during the period. Finally, Synovus Financial Corp lifted its position in shares of Lam Research by 22.4% during the 3rd quarter. Synovus Financial Corp now owns 3,071 shares of the semiconductor company's stock valued at $2,508,000 after buying an additional 561 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Insider Activity

In related news, SVP Seshasayee Varadarajan sold 110,080 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares of the company's stock, valued at $16,117,560. This trade represents a 38.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.29% of the company's stock.

Lam Research Price Performance

Shares of Lam Research stock opened at $71.42 on Friday. The firm has a market capitalization of $91.68 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.52. The business's 50-day moving average price is $73.15 and its 200-day moving average price is $75.48. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Sell-side analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Wednesday, March 5th were given a $0.23 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.92 annualized dividend and a yield of 1.29%. Lam Research's payout ratio is currently 27.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on LRCX shares. TD Cowen lowered their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday. TD Securities dropped their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday. Sanford C. Bernstein raised shares of Lam Research from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $85.00 to $91.00 in a report on Thursday, January 30th. Wolfe Research cut shares of Lam Research from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 15th. Finally, Jefferies Financial Group raised their price target on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Six analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.70.

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.

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