Joseph Group Capital Management Buys Shares of 55 Lam Research Co. (NASDAQ:LRCX)

Joseph Group Capital Management bought a new stake in Lam Research Co. (NASDAQ:LRCXGet Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 55 shares of the semiconductor company’s stock, valued at approximately $1,704,000. Lam Research accounts for approximately 1.6% of Joseph Group Capital Management’s portfolio, making the stock its 14th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Cedar Wealth Management LLC acquired a new position in shares of Lam Research during the 3rd quarter worth $25,000. Missouri Trust & Investment Co acquired a new position in shares of Lam Research during the 4th quarter worth $25,000. Allegheny Financial Group LTD acquired a new position in shares of Lam Research during the 4th quarter worth $25,000. D Orazio & Associates Inc. acquired a new position in shares of Lam Research during the 3rd quarter worth $26,000. Finally, McClarren Financial Advisors Inc. acquired a new position in shares of Lam Research during the 4th quarter worth $36,000. 82.34% of the stock is owned by institutional investors.

NASDAQ LRCX traded up $31.49 on Friday, reaching $491.92. The company had a trading volume of 1,908,547 shares, compared to its average volume of 1,410,791. The firm has a market capitalization of $68.23 billion, a PE ratio of 15.38, a P/E/G ratio of 0.91 and a beta of 1.27. Lam Research Co. has a 1 year low of $442.53 and a 1 year high of $731.85. The firm has a 50-day moving average of $496.72 and a 200-day moving average of $584.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.83 and a quick ratio of 2.00.

Lam Research (NASDAQ:LRCXGet Rating) last released its quarterly earnings results on Wednesday, April 20th. The semiconductor company reported $7.40 earnings per share for the quarter, missing analysts’ consensus estimates of $7.48 by ($0.08). The company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Lam Research had a return on equity of 75.51% and a net margin of 27.13%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.49 EPS. As a group, sell-side analysts expect that Lam Research Co. will post 31.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 6th. Shareholders of record on Wednesday, June 15th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, June 14th. Lam Research’s dividend payout ratio is presently 18.76%.

LRCX has been the subject of several research reports. Mizuho cut their price target on Lam Research from $725.00 to $675.00 and set a “buy” rating for the company in a research note on Thursday, April 21st. Barclays cut their target price on shares of Lam Research from $700.00 to $625.00 and set an “overweight” rating for the company in a research note on Thursday, April 21st. UBS Group cut their target price on shares of Lam Research from $765.00 to $760.00 and set a “buy” rating for the company in a research note on Thursday, January 27th. Wells Fargo & Company cut their target price on shares of Lam Research from $610.00 to $525.00 and set an “equal weight” rating for the company in a research note on Monday, April 18th. Finally, Susquehanna cut their target price on shares of Lam Research from $655.00 to $640.00 and set a “neutral” rating for the company in a research note on Thursday, January 27th. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Lam Research currently has a consensus rating of “Hold” and a consensus target price of $670.90.

In other news, Director Catherine P. Lego purchased 1,736 shares of the company’s stock in a transaction that occurred on Tuesday, April 26th. The shares were acquired at an average cost of $460.35 per share, with a total value of $799,167.60. Following the transaction, the director now owns 49,991 shares in the company, valued at approximately $23,013,356.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Scott Gerald Meikle sold 700 shares of the company’s stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $541.22, for a total value of $378,854.00. Following the sale, the senior vice president now directly owns 20,425 shares in the company, valued at $11,054,418.50. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Lam Research Profile (Get Rating)

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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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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