ABC Arbitrage SA Boosts Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• ABC Arbitrage SA increased its shareholding in Lam Research Corporation by **508.0%**, amassing a total of 21,549 shares valued at **$1,567,000** as reported in its latest SEC filing.
• Lam Research recently reported a quarterly earnings per share (EPS) of **$1.33**, surpassing analysts' expectations of **$1.21**, alongside a revenue of **$5.17 billion** for the quarter.
• Analysts have a consensus rating of **"Moderate Buy"** for Lam Research, with a target price averaging **$107.09**, reflecting strong confidence in the company's stock performance.

ABC Arbitrage SA grew its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 508.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,549 shares of the semiconductor company's stock after buying an additional 18,005 shares during the period. ABC Arbitrage SA's holdings in Lam Research were worth $1,567,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LRCX. Ameriprise Financial Inc. lifted its holdings in Lam Research by 950.5% during 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. lifted its holdings in Lam Research by 909.5% during the 4th quarter. Invesco Ltd. now owns 16,858,135 shares of the semiconductor company's stock worth $1,217,663,000 after purchasing an additional 15,188,173 shares in the last quarter. Northern Trust Corp lifted its holdings in Lam Research by 1,067.0% during 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Lam Research by 6,383.5% during 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. Finally, Janus Henderson Group PLC bought a new position in Lam Research in the 4th quarter worth about $792,161,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Trading Up 2.1%

NASDAQ LRCX opened at $98.41 on Tuesday. The stock's 50 day moving average is $94.31 and its 200 day moving average is $82.57. The firm has a market capitalization of $125.88 billion, a PE ratio of 23.66, a P/E/G ratio of 1.29 and a beta of 1.65. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $102.59. 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 (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. The business had revenue of $5.17 billion during the quarter, compared to analysts' expectations of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The firm's quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.03 earnings per share. Research analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LRCX shares. The Goldman Sachs Group started coverage on Lam Research in a research note on Thursday, July 10th. They issued a "buy" rating and a $115.00 target price on the stock. Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the stock a "hold" rating in a research note on Thursday, April 24th. Morgan Stanley upped their target price on Lam Research from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Mizuho upped their target price on Lam Research from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Citigroup upped their target price on Lam Research from $108.00 to $113.00 and gave the stock a "buy" rating in a research note on Friday. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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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