Guardian Wealth Advisors LLC NC Purchases 88 Shares of Lam Research Co. (NASDAQ:LRCX)

Posted by Defense World Staff on Sep 11th, 2023

Guardian Wealth Advisors LLC NC boosted its position in Lam Research Co. (NASDAQ:LRCX – Free Report) by 17.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 588 shares of the semiconductor company’s stock after acquiring an additional 88 shares during the quarter. Guardian Wealth Advisors LLC NC’s holdings in Lam Research were worth $313,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LRCX. Cypress Capital Group grew its position in Lam Research by 0.8% in the 1st quarter. Cypress Capital Group now owns 2,480 shares of the semiconductor company’s stock worth $1,315,000 after purchasing an additional 20 shares in the last quarter. Greenleaf Trust grew its position in Lam Research by 0.6% in the 1st quarter. Greenleaf Trust now owns 3,447 shares of the semiconductor company’s stock worth $1,827,000 after purchasing an additional 21 shares in the last quarter. Bamco Inc. NY grew its position in Lam Research by 18.8% in the 4th quarter. Bamco Inc. NY now owns 139 shares of the semiconductor company’s stock worth $58,000 after purchasing an additional 22 shares in the last quarter. Quent Capital LLC grew its position in Lam Research by 4.1% in the 1st quarter. Quent Capital LLC now owns 555 shares of the semiconductor company’s stock worth $294,000 after purchasing an additional 22 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Lam Research by 1.3% in the fourth quarter. Quadrant Capital Group LLC now owns 1,789 shares of the semiconductor company’s stock valued at $752,000 after acquiring an additional 23 shares during the last quarter. 84.08% of the stock is owned by institutional investors.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $668.88 on Monday. The company’s fifty day moving average price is $665.67 and its 200-day moving average price is $587.25. The firm has a market capitalization of $88.63 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 4.09 and a beta of 1.49. Lam Research Co. has a one year low of $299.59 and a one year high of $726.53. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.16 and a quick ratio of 2.01.

Lam Research (NASDAQ:LRCX – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $5.98 EPS for the quarter, topping analysts’ consensus estimates of $5.03 by $0.95. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.13 billion. Lam Research had a net margin of 25.88% and a return on equity of 57.40%. The business’s revenue for the quarter was down 30.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.83 EPS. On average, equities research analysts anticipate that Lam Research Co. will post 26.75 earnings per share for the current fiscal year.

Lam Research Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend is Tuesday, September 12th. Lam Research’s payout ratio is 20.82%.

Insider Transactions at Lam Research

In other news, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $642.86, for a total value of $567,002.52. Following the transaction, the director now owns 12,999 shares of the company’s stock, valued at approximately $8,356,537.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Douglas R. Bettinger sold 1,894 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $705.86, for a total transaction of $1,336,898.84. Following the transaction, the chief financial officer now owns 96,713 shares of the company’s stock, valued at approximately $68,265,838.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $642.86, for a total transaction of $567,002.52. Following the transaction, the director now directly owns 12,999 shares in the company, valued at approximately $8,356,537.14. The disclosure for this sale can be found here. Insiders have sold 18,159 shares of company stock valued at $12,926,580 in the last quarter. Insiders own 0.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on LRCX shares. B. Riley boosted their target price on shares of Lam Research from $500.00 to $650.00 in a research note on Monday, July 17th. Citigroup boosted their target price on shares of Lam Research from $695.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Wells Fargo & Company boosted their target price on shares of Lam Research from $620.00 to $650.00 in a research note on Thursday, July 27th. Sanford C. Bernstein boosted their target price on shares of Lam Research from $500.00 to $550.00 in a research note on Thursday, July 27th. Finally, StockNews.com started coverage on shares of Lam Research in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $570.79.

Check Out Our Latest Stock Report on LRCX

Lam Research Profile

(Free Report)

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.