6,612 Shares in Lam Research Corporation (NASDAQ:LRCX) Acquired by Strategic Investment Advisors MI

Strategic Investment Advisors MI acquired a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,612 shares of the semiconductor company's stock, valued at approximately $481,000.

A number of other hedge funds have also recently bought and sold shares of the company. Huntington National Bank raised its stake in shares of Lam Research by 944.0% during the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock worth $21,291,000 after buying an additional 266,527 shares during the last quarter. Cerity Partners LLC raised its position in shares of Lam Research by 781.9% during the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock valued at $23,920,000 after acquiring an additional 293,619 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Lam Research during the 4th quarter valued at $6,296,000. Pitcairn Co. acquired a new position in shares of Lam Research in the 4th quarter valued at $1,013,000. Finally, First Citizens Bank & Trust Co. boosted its position in shares of Lam Research by 47.8% in the 1st quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company's stock worth $8,862,000 after purchasing an additional 39,414 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LRCX. Wells Fargo & Company cut their target price on Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. UBS Group cut their price target on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Cantor Fitzgerald lifted their price objective on shares of Lam Research from $90.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday. Bank of America lowered their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Needham & Company LLC reduced their price target on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $93.97.

Lam Research Trading Up 0.4%

NASDAQ LRCX opened at $96.02 on Thursday. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $113.00. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The stock's 50 day moving average price is $81.26 and its two-hundred day moving average price is $77.94. The stock has a market capitalization of $122.82 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 1.35 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm's revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.79 earnings per share. As a group, analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio is currently 25.63%.

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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