9,770 Shares in Lam Research Corporation (NASDAQ:LRCX) Bought by WealthPlan Investment Management LLC

Key Points

• WealthPlan Investment Management LLC acquired 9,770 shares of Lam Research Corporation for approximately $710,000 in the 1st quarter.
• Lam Research reported $1.33 earnings per share for the last quarter, exceeding analysts' expectations, with revenue rising 33.6% year-over-year.
• The company has a current market cap of $126.82 billion and an average analyst rating of "Moderate Buy" with a consensus target price of $107.09.

WealthPlan Investment Management LLC 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 13F filing with the Securities and Exchange Commission. The fund acquired 9,770 shares of the semiconductor company's stock, valued at approximately $710,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LRCX. Smallwood Wealth Investment Management LLC bought a new position in shares of Lam Research during the 1st quarter worth about $26,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research during the 4th quarter valued at about $27,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Lam Research during the 4th quarter valued at about $27,000. Park Square Financial Group LLC acquired a new stake in shares of Lam Research during the 4th quarter valued at about $31,000. Finally, Putney Financial Group LLC acquired a new stake in shares of Lam Research during the 4th quarter valued at about $36,000. Institutional investors own 84.61% of the company's stock.

Lam Research Trading Up 3.3%

LRCX opened at $99.15 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. The company has a market cap of $126.82 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 1.24 and a beta of 1.65. The firm has a 50 day simple moving average of $95.10 and a 200 day simple moving average of $82.89. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $102.59.

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

Lam Research Announces Dividend

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

Analyst Upgrades and Downgrades

LRCX has been the topic of several recent research reports. TD Securities decreased their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Raymond James Financial lifted their target price on shares of Lam Research from $90.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Stifel Nicolaus lifted their target price on shares of Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Wells Fargo & Company set a $98.00 target price on shares of Lam Research and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the company a "hold" rating in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Lam Research currently has an average 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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