5,480 Shares in Lam Research Corporation (NASDAQ:LRCX) Bought by Investment Management Corp VA ADV

Key Points

• Investment Management Corp VA ADV purchased 5,480 shares of Lam Research Corporation for approximately $398,000, contributing to the 84.61% ownership of the company held by institutional investors.
• Lam Research reported a 24.4% year-over-year increase in revenue, achieving $4.72 billion for the quarter and earning $1.04 per share, surpassing analyst expectations.
• The company declared a quarterly dividend of $0.23 per share, representing a 0.95% annualized dividend yield, with a payout ratio of 25.63%.

Investment Management Corp VA ADV bought a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,480 shares of the semiconductor company's stock, valued at approximately $398,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Empirical Finance LLC increased its position in Lam Research by 1.5% during the first quarter. Empirical Finance LLC now owns 46,397 shares of the semiconductor company's stock worth $3,373,000 after acquiring an additional 679 shares during the period. Allium Financial Advisors LLC bought a new stake in Lam Research in the 1st quarter valued at $566,000. TD Asset Management Inc increased its holdings in Lam Research by 4.7% in the 1st quarter. TD Asset Management Inc now owns 2,703,776 shares of the semiconductor company's stock valued at $196,565,000 after buying an additional 121,864 shares during the period. HB Wealth Management LLC increased its holdings in Lam Research by 9.4% in the 1st quarter. HB Wealth Management LLC now owns 113,222 shares of the semiconductor company's stock valued at $8,231,000 after buying an additional 9,717 shares during the period. Finally, Applied Finance Capital Management LLC increased its holdings in Lam Research by 15.1% in the 1st quarter. Applied Finance Capital Management LLC now owns 20,733 shares of the semiconductor company's stock valued at $1,507,000 after buying an additional 2,713 shares during the period. Institutional investors own 84.61% of the company's stock.

Lam Research Stock Down 0.8%

Shares of NASDAQ LRCX opened at $96.96 on Friday. The firm's 50-day simple moving average is $92.49 and its 200 day simple moving average is $81.62. The company has a market cap of $124.02 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 1.38 and a beta of 1.68. 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 Corporation has a 12-month low of $56.32 and a 12-month high of $102.59.

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, beating 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 company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the company posted $7.79 EPS. The company's revenue was up 24.4% compared to the same quarter last year. On average, research analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors 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 dividend yield of 0.95%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is 25.63%.

Analyst Ratings Changes

Several brokerages have issued reports on LRCX. Argus raised shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. UBS Group boosted their price target on shares of Lam Research from $95.00 to $120.00 and gave the company a "buy" rating in a report on Monday, July 21st. Oppenheimer reissued an "outperform" rating and issued a $110.00 price target (up previously from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. Mizuho boosted their price target on shares of Lam Research from $100.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Finally, Needham & Company LLC lowered their price target on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $100.57.

Lam Research Company 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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