EFG Asset Management North America Corp. Grows Stock Position in Lam Research Corporation $LRCX

EFG Asset Management North America Corp. raised its position in Lam Research Corporation (NASDAQ:LRCX) by 6.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 61,272 shares of the semiconductor company’s stock after acquiring an additional 3,845 shares during the period. Lam Research makes up about 1.1% of EFG Asset Management North America Corp.’s holdings, making the stock its 13th largest holding. EFG Asset Management North America Corp.’s holdings in Lam Research were worth $8,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in LRCX. Gilliland Jeter Wealth Management LLC raised its stake in Lam Research by 0.3% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 26,501 shares of the semiconductor company’s stock valued at $3,548,000 after acquiring an additional 69 shares during the period. Gold Investment Management Ltd. increased its stake in shares of Lam Research by 0.5% in the third quarter. Gold Investment Management Ltd. now owns 14,736 shares of the semiconductor company’s stock worth $1,973,000 after purchasing an additional 70 shares in the last quarter. Hemington Wealth Management increased its stake in shares of Lam Research by 4.3% in the third quarter. Hemington Wealth Management now owns 1,731 shares of the semiconductor company’s stock worth $231,000 after purchasing an additional 72 shares in the last quarter. Magnus Financial Group LLC raised its position in shares of Lam Research by 0.3% in the third quarter. Magnus Financial Group LLC now owns 22,838 shares of the semiconductor company’s stock valued at $3,058,000 after purchasing an additional 76 shares during the period. Finally, Natural Investments LLC lifted its stake in shares of Lam Research by 2.4% during the 3rd quarter. Natural Investments LLC now owns 3,408 shares of the semiconductor company’s stock valued at $456,000 after buying an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX opened at $222.87 on Tuesday. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $236.10. The company has a current ratio of 2.21, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37. The company has a market cap of $279.93 billion, a PE ratio of 49.09, a price-to-earnings-growth ratio of 2.76 and a beta of 1.77. The stock has a 50-day moving average price of $179.59 and a 200-day moving average price of $142.73.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 7th. Shareholders of record on Wednesday, December 3rd were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, December 3rd. Lam Research’s payout ratio is currently 22.91%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group reiterated a “buy” rating and issued a $255.00 price objective (up from $200.00) on shares of Lam Research in a research note on Tuesday, January 20th. Berenberg Bank raised their price target on Lam Research from $122.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Evercore ISI lifted their price target on Lam Research from $170.00 to $241.00 and gave the company an “outperform” rating in a research report on Monday. Needham & Company LLC reiterated a “buy” rating and set a $250.00 price objective (up from $160.00) on shares of Lam Research in a research note on Tuesday, January 20th. Finally, Susquehanna restated a “positive” rating and issued a $250.00 target price on shares of Lam Research in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.81.

Insiders Place Their Bets

In related news, Director Bethany Mayer sold 1,298 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $159.99, for a total value of $207,667.02. Following the completion of the transaction, the director directly owned 1,652 shares in the company, valued at approximately $264,303.48. The trade was a 44.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas R. Bettinger sold 40,080 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $150.60, for a total value of $6,036,048.00. Following the sale, the chief financial officer owned 987,237 shares in the company, valued at $148,677,892.20. The trade was a 3.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,408 shares of company stock worth $6,248,501 in the last three months. Insiders own 0.31% of the company’s stock.

About Lam Research

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.