Prudent Man Advisors LLC Takes $1.07 Million Position in Lam Research Corporation (NASDAQ:LRCX)

Prudent Man Advisors LLC bought a new position in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 14,759 shares of the semiconductor company's stock, valued at approximately $1,073,000.

A number of other institutional investors also recently bought and sold shares of the stock. Smallwood Wealth Investment Management LLC acquired a new stake in Lam Research during the 1st quarter valued at approximately $26,000. West Paces Advisors Inc. acquired a new stake in Lam Research during the 4th quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC acquired a new stake in Lam Research during the 4th quarter valued at approximately $27,000. Avalon Trust Co lifted its stake in Lam Research by 791.3% during the 4th quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 364 shares during the period. Finally, Park Square Financial Group LLC purchased a new position in shares of Lam Research during the 4th quarter valued at approximately $31,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Price Performance

Shares of Lam Research stock traded up $0.67 during trading hours on Friday, reaching $101.73. 6,202,556 shares of the company's stock were exchanged, compared to its average volume of 12,344,380. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $108.23. The company has a market capitalization of $130.12 billion, a P/E ratio of 28.35, a price-to-earnings-growth ratio of 1.44 and a beta of 1.68. The business has a fifty day moving average of $88.50 and a two-hundred day moving average of $79.92. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the firm earned $7.79 earnings per share. The company's revenue for the quarter was up 24.4% compared to the same quarter last year. As a group, research analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.90%. Lam Research's payout ratio is 25.63%.

Wall Street Analyst Weigh In

LRCX has been the subject of several recent research reports. Jefferies Financial Group lifted their target price on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, March 28th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $115.00 target price (up from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. B. Riley reaffirmed a "buy" rating and set a $115.00 target price (up from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. UBS Group cut their target price on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Citigroup reaffirmed a "buy" rating and set a $108.00 target price (up from $87.00) on shares of Lam Research in a report on Monday, July 7th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $97.48.

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.