20,179 Shares in Lam Research Corporation (NASDAQ:LRCX) Purchased by Platform Technology Partners

Platform Technology Partners bought a new stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,179 shares of the semiconductor company's stock, valued at approximately $1,467,000.

Several other hedge funds have also recently added to or reduced their stakes in LRCX. Arizona State Retirement System acquired a new position in Lam Research during the 1st quarter worth approximately $27,447,000. Valued Wealth Advisors LLC lifted its position in Lam Research by 30.7% during the first quarter. Valued Wealth Advisors LLC now owns 915 shares of the semiconductor company's stock worth $67,000 after acquiring an additional 215 shares during the last quarter. Nikulski Financial Inc. grew its holdings in Lam Research by 1.1% in the 1st quarter. Nikulski Financial Inc. now owns 52,724 shares of the semiconductor company's stock valued at $3,833,000 after buying an additional 551 shares in the last quarter. Ballentine Partners LLC increased its position in Lam Research by 10.9% during the first quarter. Ballentine Partners LLC now owns 52,894 shares of the semiconductor company's stock worth $3,845,000 after acquiring an additional 5,192 shares during the period. Finally, Fortem Financial Group LLC boosted its stake in shares of Lam Research by 146.1% in the first quarter. Fortem Financial Group LLC now owns 9,624 shares of the semiconductor company's stock valued at $700,000 after buying an additional 5,714 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Trading Up 0.7%

Shares of Lam Research stock opened at $101.73 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $109.34. The stock's 50 day simple moving average is $88.50 and its 200-day simple moving average is $79.87. The stock has a market cap of $130.12 billion, a P/E ratio of 28.35, a P/E/G ratio of 1.43 and a beta of 1.68.

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 for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. Lam Research's revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the company posted $7.79 EPS. Analysts predict that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.90%. Lam Research's dividend payout ratio (DPR) is 25.63%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several recent analyst reports. Jefferies Financial Group upped their price objective on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. B. Riley reaffirmed a "buy" rating and issued a $115.00 price objective (up from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. TD Securities reduced their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. UBS Group cut their target price on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Morgan Stanley lifted their target price on Lam Research from $82.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $97.48.

About Lam Research

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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