Marcum Wealth LLC Buys New Holdings in Lam Research Co. (NASDAQ:LRCX)

Marcum Wealth LLC acquired a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 3,721 shares of the semiconductor company's stock, valued at approximately $271,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after buying an additional 108,619,564 shares during the period. FMR LLC lifted its holdings in shares of Lam Research by 1,032.6% in the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after buying an additional 36,496,689 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Lam Research by 950.5% in the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after buying an additional 31,255,726 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after buying an additional 28,307,499 shares during the period. Finally, Norges Bank acquired a new stake in shares of Lam Research in the 4th quarter valued at approximately $1,661,672,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. B. Riley reaffirmed a "buy" rating on shares of Lam Research in a research note on Thursday, April 24th. Barclays dropped their price objective on Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. TD Cowen dropped their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus dropped their price objective on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Bank of America dropped their price objective on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.56.

Lam Research Trading Up 2.1%

Shares of NASDAQ:LRCX traded up $1.69 during midday trading on Monday, reaching $82.48. The company's stock had a trading volume of 8,244,768 shares, compared to its average volume of 12,250,621. The firm has a market cap of $105.50 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The business has a 50 day moving average price of $73.45 and a 200 day moving average price of $75.94.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The business 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 51.86% and a net margin of 26.49%. The business's revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.79 earnings per share. Research analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio is currently 25.63%.

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.