EFG Asset Management North America Corp. Buys 3,845 Shares of Lam Research Corporation $LRCX

EFG Asset Management North America Corp. grew its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,272 shares of the semiconductor company’s stock after purchasing an additional 3,845 shares during the period. Lam Research makes up 1.1% of EFG Asset Management North America Corp.’s investment portfolio, making the stock its 13th biggest 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.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alta Wealth Advisors LLC acquired a new position in Lam Research during the 3rd quarter worth approximately $1,750,000. Belpointe Asset Management LLC grew its stake in Lam Research by 0.6% in the third quarter. Belpointe Asset Management LLC now owns 17,896 shares of the semiconductor company’s stock valued at $2,396,000 after acquiring an additional 113 shares during the period. Clark Financial Services Group Inc. BD increased its holdings in shares of Lam Research by 10.0% during the third quarter. Clark Financial Services Group Inc. BD now owns 5,504 shares of the semiconductor company’s stock valued at $737,000 after acquiring an additional 501 shares in the last quarter. National Wealth Management Group LLC raised its position in shares of Lam Research by 15.4% during the third quarter. National Wealth Management Group LLC now owns 20,091 shares of the semiconductor company’s stock worth $2,690,000 after purchasing an additional 2,679 shares during the period. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of Lam Research by 1.4% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 80,464 shares of the semiconductor company’s stock worth $10,774,000 after purchasing an additional 1,082 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Lam Research Trading Up 2.3%

Shares of LRCX stock opened at $222.87 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.60 and a current ratio of 2.21. The company has a market capitalization of $279.93 billion, a price-to-earnings ratio of 49.09, a PEG ratio of 2.76 and a beta of 1.77. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $236.10. The company has a 50-day simple moving average of $179.59 and a two-hundred day simple moving average of $142.73.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 7th. Investors of record on Wednesday, December 3rd were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, December 3rd. Lam Research’s dividend payout ratio (DPR) is presently 22.91%.

Analysts Set New Price Targets

Several research analysts have weighed in on LRCX shares. Wells Fargo & Company set a $250.00 price objective on shares of Lam Research and gave the stock an “overweight” rating in a report on Thursday, January 15th. Jefferies Financial Group reissued a “buy” rating and set a $200.00 target price (up from $175.00) on shares of Lam Research in a research report on Monday, December 15th. Evercore ISI upped their target price on shares of Lam Research from $170.00 to $241.00 and gave the stock an “outperform” rating in a report on Monday. Oppenheimer set a $200.00 price target on shares of Lam Research and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Finally, Stifel Nicolaus boosted their price objective on Lam Research from $160.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $202.81.

Insiders Place Their Bets

In other Lam Research news, CFO Douglas R. Bettinger sold 40,080 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $150.60, for a total value of $6,036,048.00. Following the completion of the transaction, the chief financial officer owned 987,237 shares in the company, valued at $148,677,892.20. This represents a 3.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bethany Mayer sold 1,298 shares of the firm’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 sale, the director directly owned 1,652 shares of the company’s stock, valued at approximately $264,303.48. This represents a 44.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,408 shares of company stock worth $6,248,501 over the last quarter. 0.31% of the stock is currently owned by corporate insiders.

Lam Research Profile

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.