Cooper Financial Group Takes Position in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Cooper Financial Group has acquired 4,512 shares of Lam Research Corporation (NASDAQ:LRCX) in the 1st quarter, valued at around $328,000.
• Lam Research recently reported earnings of $1.33 per share, surpassing analysts' expectations, with revenues up 33.6% year-over-year to $5.17 billion.
• The company's stock has received multiple upgrades from analysts, with a consensus target price increase to $120.00 amid a majority buy rating across investment analysts.

Cooper Financial Group purchased a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,512 shares of the semiconductor company's stock, valued at approximately $328,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in shares of Lam Research by 950.5% during 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 last quarter. Northern Trust Corp increased its stake in shares of Lam Research by 1,067.0% in the 4th quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock valued at $1,146,235,000 after purchasing an additional 14,509,407 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Lam Research by 6,383.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock valued at $980,500,000 after purchasing an additional 13,365,317 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Lam Research in the 4th quarter valued at about $792,161,000. Finally, Vanguard Group Inc. increased its stake in shares of Lam Research by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 129,152,102 shares of the semiconductor company's stock valued at $9,389,358,000 after purchasing an additional 8,364,375 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Trading Up 1.4%

LRCX traded up $1.46 during trading hours on Wednesday, reaching $106.74. The company's stock had a trading volume of 12,115,388 shares, compared to its average volume of 11,955,634. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $107.49. The stock has a market cap of $136.54 billion, a PE ratio of 25.66, a P/E/G ratio of 1.32 and a beta of 1.65. The business's 50-day moving average is $96.35 and its 200-day moving average is $83.35. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The company had revenue of $5.17 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The firm's revenue was up 33.6% compared to the same quarter last year. As a group, equities research analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio is 22.12%.

Analysts Set New Price Targets

LRCX has been the subject of several recent analyst reports. TD Securities cut their price target 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. The Goldman Sachs Group initiated coverage on Lam Research in a research note on Thursday, July 10th. They issued a "buy" rating and a $115.00 price target for the company. Citigroup lifted their price target on Lam Research from $108.00 to $113.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Stifel Nicolaus lifted their price objective on Lam Research from $92.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, TD Cowen lifted their price objective on Lam Research from $100.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and a consensus price target of $107.09.

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.