1858 Wealth Management LLC Purchases Shares of 3,371 Lam Research Corporation (NASDAQ:LRCX)

1858 Wealth Management LLC purchased a new stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,371 shares of the semiconductor company's stock, valued at approximately $245,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in Lam Research by 550.2% during the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 37,393 shares of the semiconductor company's stock worth $2,718,000 after buying an additional 31,642 shares during the period. Kentucky Retirement Systems acquired a new stake in Lam Research during the 1st quarter worth about $6,382,000. Childress Capital Advisors LLC raised its holdings in Lam Research by 6.1% during the 1st quarter. Childress Capital Advisors LLC now owns 4,178 shares of the semiconductor company's stock worth $304,000 after buying an additional 240 shares during the period. Moisand Fitzgerald Tamayo LLC raised its holdings in Lam Research by 6,908.5% during the 1st quarter. Moisand Fitzgerald Tamayo LLC now owns 9,111 shares of the semiconductor company's stock worth $662,000 after buying an additional 8,981 shares during the period. Finally, Nilsine Partners LLC raised its holdings in Lam Research by 7.6% during the 1st quarter. Nilsine Partners LLC now owns 128,223 shares of the semiconductor company's stock worth $9,322,000 after buying an additional 9,022 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Down 1.9%

Shares of LRCX stock opened at $90.49 on Friday. Lam Research Corporation has a one year low of $56.32 and a one year high of $113.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The stock has a fifty day moving average price of $79.62 and a 200 day moving average price of $77.57. The stock has a market cap of $115.75 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 1.27 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the business earned $7.79 EPS. The firm's revenue was up 24.4% on a year-over-year basis. Analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.02%. Lam Research's dividend payout ratio (DPR) is currently 25.63%.

Analysts Set New Price Targets

LRCX has been the topic of several recent analyst reports. TD Cowen cut their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. TD Securities dropped their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Argus upgraded Lam Research to a "strong-buy" rating in a report on Friday, April 25th. B. Riley reiterated a "buy" rating and issued a $115.00 target price (up previously from $95.00) on shares of Lam Research in a report on Wednesday. Finally, Bank of America dropped their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and a consensus target price of $92.78.

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.

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