Advisor Resource Council Acquires Shares of 13,366 Lam Research Corporation (NASDAQ:LRCX)

Advisor Resource Council purchased a new stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,366 shares of the semiconductor company's stock, valued at approximately $940,000.

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LRCX. Needham & Company LLC dropped their price target on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company cut their target price on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. UBS Group dropped their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a report on Monday, April 14th. TD Cowen reduced 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 note on Thursday, April 24th. Finally, Bank of America decreased their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.78.

Lam Research Stock Up 0.9%

Shares of NASDAQ:LRCX traded up $0.83 during trading on Monday, hitting $91.32. The company's stock had a trading volume of 4,464,718 shares, compared to its average volume of 12,276,145. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The business has a 50 day moving average price of $79.62 and a two-hundred day moving average price of $77.58. 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 company has a market capitalization of $116.81 billion, a PE ratio of 25.43, a P/E/G ratio of 1.27 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its 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. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the business posted $7.79 earnings per share. Lam Research's revenue was up 24.4% compared to the same quarter last year. As a group, research analysts expect that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.01%. 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.