Legacy Wealth Management LLC MS Acquires Shares of 3,980 Lam Research Co. (NASDAQ:LRCX)

Legacy Wealth Management LLC MS purchased a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,980 shares of the semiconductor company's stock, valued at approximately $289,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Perspectives Inc boosted its position in Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 309 shares during the last quarter. Fairway Wealth LLC grew its position in Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 306 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in Lam Research in the fourth quarter valued at $27,000. West Paces Advisors Inc. bought a new position in Lam Research in the fourth quarter valued at $27,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Lam Research in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LRCX. Evercore ISI increased their price target on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 price objective on shares of Lam Research in a report on Thursday, April 24th. Jefferies Financial Group increased their price target on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. TD Securities cut their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, TD Cowen cut their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $91.56.

Lam Research Price Performance

Shares of NASDAQ LRCX traded down $3.84 during midday trading on Friday, reaching $80.32. The company's stock had a trading volume of 19,188,650 shares, compared to its average volume of 12,280,115. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The business's 50 day moving average price is $73.45 and its two-hundred day moving average price is $75.92. The company has a market cap of $102.74 billion, a P/E ratio of 24.40, a P/E/G ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company's quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.79 EPS. On average, analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Wednesday, June 18th. Lam Research's payout ratio is presently 25.63%.

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.