Armstrong Advisory Group Inc. Purchases New Stake in Lam Research Co. (NASDAQ:LRCX)

Posted by Defense World Staff on Mar 26th, 2023

Armstrong Advisory Group Inc. purchased a new stake in Lam Research Co. (NASDAQ:LRCX – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 111 shares of the semiconductor company’s stock, valued at approximately $47,000.

A number of other institutional investors have also recently modified their holdings of the business. Gallacher Capital Management LLC purchased a new stake in Lam Research during the fourth quarter worth $385,000. AdvisorNet Financial Inc boosted its position in Lam Research by 1,481.1% during the fourth quarter. AdvisorNet Financial Inc now owns 585 shares of the semiconductor company’s stock worth $246,000 after purchasing an additional 548 shares in the last quarter. Merit Financial Group LLC boosted its position in Lam Research by 147.9% during the fourth quarter. Merit Financial Group LLC now owns 1,594 shares of the semiconductor company’s stock worth $670,000 after purchasing an additional 951 shares in the last quarter. Gateway Investment Advisers LLC boosted its position in Lam Research by 0.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 12,309 shares of the semiconductor company’s stock worth $5,174,000 after purchasing an additional 82 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. purchased a new stake in Lam Research during the fourth quarter worth $207,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $502.06 on Friday. The firm has a market capitalization of $67.75 billion, a PE ratio of 13.50, a P/E/G ratio of 8.74 and a beta of 1.48. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.02 and a quick ratio of 1.95. The business has a 50-day moving average of $496.38 and a two-hundred day moving average of $445.90. Lam Research Co. has a 12 month low of $299.59 and a 12 month high of $574.79.

Lam Research (NASDAQ:LRCX – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The semiconductor company reported $10.71 EPS for the quarter, topping the consensus estimate of $9.95 by $0.76. The company had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.08 billion. Lam Research had a return on equity of 73.48% and a net margin of 26.91%. The firm’s revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the firm posted $8.53 earnings per share. As a group, research analysts forecast that Lam Research Co. will post 33.3 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th will be paid a dividend of $1.725 per share. The ex-dividend date is Tuesday, March 14th. This represents a $6.90 annualized dividend and a yield of 1.37%. Lam Research’s dividend payout ratio is presently 18.55%.

Insiders Place Their Bets

In other Lam Research news, Director Abhijit Y. Talwalkar sold 880 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $429.72, for a total transaction of $378,153.60. Following the completion of the sale, the director now directly owns 14,762 shares in the company, valued at $6,343,526.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Lam Research from $434.00 to $495.00 and gave the stock a “buy” rating in a research report on Thursday, January 26th. Morgan Stanley upped their price objective on Lam Research from $404.00 to $550.00 in a research report on Thursday, January 26th. B. Riley upped their price objective on Lam Research from $390.00 to $440.00 and gave the company a “neutral” rating in a research report on Monday, January 23rd. Sanford C. Bernstein downgraded Lam Research from an “outperform” rating to a “market perform” rating in a research report on Monday, March 13th. Finally, KGI Securities upgraded Lam Research from a “neutral” rating to an “outperform” rating in a research report on Wednesday, March 1st. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $492.10.

About Lam Research

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Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.