Burr Financial Services LLC Acquires New Position in Lam Research Co. (NASDAQ:LRCX)

Burr Financial Services LLC acquired a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,550 shares of the semiconductor company's stock, valued at approximately $476,000. Lam Research accounts for 0.4% of Burr Financial Services LLC's investment portfolio, making the stock its 20th largest position.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Financial Perspectives Inc raised its holdings in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 309 shares during the period. Fairway Wealth LLC raised its holdings in Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares during the period. Midwest Capital Advisors LLC purchased a new position in Lam Research in the fourth quarter valued at approximately $27,000. West Paces Advisors Inc. acquired a new position in Lam Research during the fourth quarter valued at approximately $27,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in Lam Research in the fourth quarter valued at about $27,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

LRCX stock traded up $1.18 during midday trading on Tuesday, hitting $83.66. The stock had a trading volume of 8,916,322 shares, compared to its average volume of 12,237,432. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The stock has a 50-day simple moving average of $73.58 and a 200 day simple moving average of $76.03. The firm has a market capitalization of $107.01 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter last year, the company posted $7.79 EPS. The firm's revenue for the quarter was up 24.4% on a year-over-year basis. As a group, equities research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.10%. Lam Research's payout ratio is 25.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Oppenheimer reduced their target price on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. TD Cowen cut their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Argus upgraded Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the stock a "hold" rating in a research note on Thursday, April 24th. Finally, Jefferies Financial Group raised their price objective on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.56.

About Lam Research

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.