Banque Cantonale Vaudoise Takes $4.13 Million Position in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Banque Cantonale Vaudoise acquired 56,828 shares of Lam Research Corporation (NASDAQ:LRCX) in the first quarter, valued at approximately $4.1 million.
• Significant increases in holdings were reported by other institutional investors, with FMR LLC raising its stake by 1,032.6% in the fourth quarter.
• Lam Research announced a quarterly dividend of $0.23 per share, reflecting an annual yield of 0.93%.

Banque Cantonale Vaudoise purchased a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 56,828 shares of the semiconductor company's stock, valued at approximately $4,132,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. GW&K Investment Management LLC boosted its stake in shares of Lam Research by 10.1% in the first quarter. GW&K Investment Management LLC now owns 1,534 shares of the semiconductor company's stock worth $112,000 after acquiring an additional 141 shares during the period. Citizens National Bank Trust Department boosted its position in Lam Research by 34.0% during the 1st quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 153 shares in the last quarter. Cassaday & Co Wealth Management LLC boosted its position in shares of Lam Research by 2.1% in the 1st quarter. Cassaday & Co Wealth Management LLC now owns 7,823 shares of the semiconductor company's stock worth $569,000 after purchasing an additional 163 shares in the last quarter. SteelPeak Wealth LLC lifted its position in Lam Research by 0.4% during the 1st quarter. SteelPeak Wealth LLC now owns 42,064 shares of the semiconductor company's stock worth $3,068,000 after acquiring an additional 178 shares during the period. Finally, Transcend Capital Advisors LLC lifted its position in Lam Research by 2.3% during the 1st quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock worth $586,000 after acquiring an additional 182 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

Shares of NASDAQ:LRCX traded up $1.50 during midday trading on Friday, reaching $96.34. The company had a trading volume of 10,601,891 shares, compared to its average volume of 11,981,236. The stock has a market cap of $123.23 billion, a P/E ratio of 23.16, a P/E/G ratio of 1.40 and a beta of 1.68. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $102.59. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The company's 50 day moving average price is $93.65 and its 200 day moving average price is $82.23.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. Lam Research had a net margin of 29.07% and a return on equity of 59.69%. 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 business earned $1.03 earnings per share. Lam Research's revenue for the quarter was up 33.6% compared to the same quarter last year. As a group, sell-side analysts anticipate 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. Shareholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 1.0%. Lam Research's dividend payout ratio (DPR) is currently 25.63%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. KeyCorp upped their price target on Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Needham & Company LLC increased their price objective on Lam Research from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday. Barclays set a $83.00 price objective on Lam Research and gave the stock an "equal weight" rating in a report on Monday. UBS Group raised their price target on Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Finally, Wells Fargo & Company set a $98.00 price target on shares of Lam Research and gave the company an "equal weight" rating in a research report on Thursday. Eight analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $106.87.

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.