Lam Research Corporation $LRCX Stock: MGO One Seven LLC Increases Holdings

MGO One Seven LLC lifted its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 23.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,625 shares of the semiconductor company’s stock after buying an additional 11,325 shares during the period. MGO One Seven LLC’s holdings in Lam Research were worth $19,259,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State Street Corp raised its stake in Lam Research by 2.6% during the 2nd quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company’s stock valued at $26,320,468,000 after acquiring an additional 1,545,830 shares during the last quarter. Bank of America Corp DE lifted its position in Lam Research by 5.5% during the 2nd quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company’s stock worth $4,872,426,000 after acquiring an additional 584,489 shares during the period. Van ECK Associates Corp grew its stake in shares of Lam Research by 411.8% in the 2nd quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company’s stock valued at $4,805,368,000 after purchasing an additional 8,922,854 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Lam Research in the 2nd quarter valued at approximately $3,777,585,000. Finally, Amundi grew its stake in shares of Lam Research by 23.7% in the 1st quarter. Amundi now owns 10,147,479 shares of the semiconductor company’s stock valued at $2,168,107,000 after purchasing an additional 1,942,862 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Down 6.0%

LRCX opened at $239.11 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48. The company has a market cap of $298.69 billion, a price-to-earnings ratio of 35.63, a PEG ratio of 0.89 and a beta of 1.85. Lam Research Corporation has a one year low of $135.50 and a one year high of $438.50. The business’s fifty day moving average is $294.47 and its two-hundred day moving average is $283.78.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.02. The business had revenue of $8.22 billion during the quarter, compared to analysts’ expectations of $8.14 billion. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The business’s revenue for the quarter was up 54.4% on a year-over-year basis. During the same quarter last year, the business posted $1.26 earnings per share. Analysts anticipate that Lam Research Corporation will post 9.59 EPS for the current fiscal year.

Lam Research Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 14th. Investors of record on Wednesday, September 23rd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, September 23rd. This is a positive change from Lam Research’s previous quarterly dividend of $0.26. Lam Research’s dividend payout ratio is currently 19.67%.

Insider Activity

In other Lam Research news, insider Ava Harter sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $302.46, for a total transaction of $1,512,300.00. Following the completion of the transaction, the insider directly owned 42,462 shares in the company, valued at approximately $12,843,056.52. This trade represents a 10.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 9,557 shares of Lam Research stock in a transaction dated 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 of the company’s stock, valued at approximately $6,607,966.30. The trade was a 31.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Berenberg Bank set a $420.00 target price on Lam Research in a report on Wednesday, September 9th. TD Cowen reaffirmed a “buy” rating and set a $400.00 price target (up from $340.00) on shares of Lam Research in a report on Thursday, July 9th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $350.00 price target (down from $450.00) on shares of Lam Research in a report on Thursday, July 30th. Wall Street Zen upgraded shares of Lam Research from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Finally, HSBC reissued a “hold” rating and issued a $333.00 price objective on shares of Lam Research in a research note on Monday, July 27th. Twenty-six equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $360.23.

Lam Research Company 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.