Access Financial Services Inc. Buys New Position in Lam Research Co. (NASDAQ:LRCX)

Access Financial Services Inc. bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,637 shares of the semiconductor company's stock, valued at approximately $991,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Investment Partners Asset Management Inc. raised its holdings in shares of Lam Research by 5.4% during the first quarter. Investment Partners Asset Management Inc. now owns 4,373 shares of the semiconductor company's stock valued at $318,000 after acquiring an additional 226 shares in the last quarter. Salem Investment Counselors Inc. raised its holdings in shares of Lam Research by 5.5% during the first quarter. Salem Investment Counselors Inc. now owns 4,716 shares of the semiconductor company's stock valued at $344,000 after acquiring an additional 246 shares in the last quarter. Legacy Wealth Asset Management LLC raised its holdings in Lam Research by 1.9% in the first quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company's stock worth $963,000 after purchasing an additional 248 shares in the last quarter. Walker Asset Management LLC raised its holdings in Lam Research by 7.8% in the first quarter. Walker Asset Management LLC now owns 3,862 shares of the semiconductor company's stock worth $281,000 after purchasing an additional 281 shares in the last quarter. Finally, Paladin Wealth LLC raised its holdings in Lam Research by 4.0% in the first quarter. Paladin Wealth LLC now owns 7,489 shares of the semiconductor company's stock worth $544,000 after purchasing an additional 289 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Mizuho increased their price objective on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. Wells Fargo & Company decreased their price objective on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. TD Securities decreased their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Evercore ISI increased their price objective on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, TD Cowen decreased their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Seven research 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 MarketBeat.com, Lam Research has an average rating of "Moderate Buy" and a consensus price target of $90.87.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $89.52 on Monday. The firm's 50-day moving average price is $77.13 and its 200-day moving average price is $77.05. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The company has a market cap of $114.51 billion, a PE ratio of 27.19, a PEG ratio of 1.47 and a beta of 1.65. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00.

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

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be given a $0.23 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 1.03%. Lam Research's payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.