56,880 Shares in Lam Research Corporation (NASDAQ:LRCX) Bought by Bowie Capital Management LLC

Key Points

• Bowie Capital Management LLC purchased 56,880 shares of Lam Research Corporation for approximately $4.13 million, making it 0.2% of their investment portfolio.
• Lam Research reported earnings of $1.33 per share for the last quarter, exceeding analysts' estimates of $1.21, and achieved a 33.6% year-over-year revenue growth of $5.17 billion.
• The company recently announced a quarterly dividend of $0.23 per share, representing an annualized yield of 0.9%.

Bowie Capital Management LLC acquired 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 Securities & Exchange Commission. The firm acquired 56,880 shares of the semiconductor company's stock, valued at approximately $4,135,000. Lam Research comprises 0.2% of Bowie Capital Management LLC's investment portfolio, making the stock its 26th biggest position.

Other large investors have also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new position in Lam Research during the first quarter worth $26,000. West Paces Advisors Inc. bought a new position in Lam Research during the fourth quarter worth $27,000. Mpwm Advisory Solutions LLC bought a new position in Lam Research during the fourth quarter worth $27,000. Park Square Financial Group LLC acquired a new stake in Lam Research in the fourth quarter worth $31,000. Finally, Putney Financial Group LLC acquired a new stake in Lam Research in the fourth quarter worth $36,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Trading Down 7.3%

NASDAQ:LRCX opened at $99.51 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $108.02. The firm has a market capitalization of $125.94 billion, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 1.39 and a beta of 1.65. The stock has a fifty day simple moving average of $97.50 and a 200 day simple moving average of $83.90.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, beating 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 business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter last year, the company posted $1.03 EPS. Lam Research's revenue for the quarter was up 33.6% on a year-over-year basis. Sell-side analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm 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 was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.9%. Lam Research's dividend payout ratio (DPR) is presently 22.12%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LRCX shares. KeyCorp increased their target price on Lam Research from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. TD Securities dropped their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Oppenheimer increased their target price on Lam Research from $110.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. B. Riley reissued a "buy" rating and set a $115.00 price target (up from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Finally, Erste Group Bank raised Lam Research to a "strong-buy" rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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