Founders Capital Management LLC Takes Position in Lam Research Co. (NASDAQ:LRCX)

Founders Capital Management LLC purchased a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,609 shares of the semiconductor company's stock, valued at approximately $408,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of LRCX. Financial Perspectives Inc raised its stake in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after buying an additional 309 shares during the period. Fairway Wealth LLC raised its stake in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 306 shares during the period. Midwest Capital Advisors LLC acquired a new stake in Lam Research during the 4th quarter valued at $27,000. West Paces Advisors Inc. acquired a new stake in Lam Research during the 4th quarter valued at $27,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Lam Research during the fourth quarter worth $27,000. Institutional investors own 84.61% of the company's stock.

Lam Research Price Performance

Shares of LRCX traded up $0.71 during mid-day trading on Thursday, reaching $91.66. The company had a trading volume of 2,316,566 shares, compared to its average volume of 12,350,854. The company has a market capitalization of $117.24 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 1.47 and a beta of 1.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The company's 50 day simple moving average is $75.96 and its 200 day simple moving average is $76.73. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00.

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 analysts' consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company's quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the business posted $7.79 earnings per share. Analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.00%. Lam Research's payout ratio is presently 25.63%.

Wall Street Analyst Weigh In

Several brokerages recently commented on LRCX. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $90.00 target price on shares of Lam Research in a report on Thursday, April 24th. TD Cowen reduced their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Stifel Nicolaus dropped their price target on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. UBS Group lowered their price objective on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Oppenheimer dropped their price objective on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $90.87.

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.