8,350 Shares in Lam Research Corporation (NASDAQ:LRCX) Purchased by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. bought a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,350 shares of the semiconductor company's stock, valued at approximately $607,000.

A number of other hedge funds have also recently bought and sold shares of LRCX. Vanguard Group Inc. increased its stake in Lam Research by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 129,152,102 shares of the semiconductor company's stock worth $9,389,358,000 after purchasing an additional 8,364,375 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Lam Research by 950.5% in the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after purchasing an additional 31,255,726 shares in the last quarter. Invesco Ltd. increased its stake in Lam Research by 2.8% in the 1st quarter. Invesco Ltd. now owns 17,330,771 shares of the semiconductor company's stock worth $1,259,947,000 after purchasing an additional 472,636 shares in the last quarter. Northern Trust Corp increased its stake in Lam Research by 1,067.0% in the 4th quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock worth $1,146,235,000 after purchasing an additional 14,509,407 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Lam Research by 6,383.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock worth $980,500,000 after purchasing an additional 13,365,317 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Up 0.6%

Shares of Lam Research stock opened at $107.38 on Friday. The firm has a market cap of $135.90 billion, a price-to-earnings ratio of 25.81, a P/E/G ratio of 1.38 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $108.02. The stock has a 50-day simple moving average of $97.24 and a 200-day simple moving average of $83.73.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. The business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The firm's revenue was up 33.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 EPS. On average, equities research analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.9%. The ex-dividend date was Wednesday, June 18th. Lam Research's payout ratio is 22.12%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LRCX. UBS Group lifted their price target on Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Stifel Nicolaus lifted their price target on Lam Research from $92.00 to $110.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Evercore ISI lifted their price target on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Wells Fargo & Company set a $98.00 price target on Lam Research and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley lifted their target price on Lam Research from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Seven investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $107.09.

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.

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