AE Wealth Management LLC Has $2.70 Million Stake in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• AE Wealth Management LLC increased its holdings in Lam Research Corporation by 48.2%, owning 37,072 shares valued at approximately $2.7 million as of the latest SEC filing.
• Lam Research reported a quarterly revenue of $4.72 billion, exceeding analyst estimates and achieving a 24.4% increase compared to the previous year.
• Analysts have issued mixed ratings for Lam Research, with target prices ranging from $80 to $115 and an average price target of about $100.57, indicating general confidence in the stock's performance.

AE Wealth Management LLC increased its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 48.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,072 shares of the semiconductor company's stock after acquiring an additional 12,055 shares during the period. AE Wealth Management LLC's holdings in Lam Research were worth $2,695,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC bought a new position in shares of Lam Research in the first quarter valued at approximately $26,000. West Paces Advisors Inc. bought a new position in shares of Lam Research in the fourth quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of Lam Research in the fourth quarter valued at approximately $27,000. Park Square Financial Group LLC bought a new stake in Lam Research during the fourth quarter worth approximately $31,000. Finally, Putney Financial Group LLC bought a new stake in Lam Research during the fourth quarter worth approximately $36,000. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $115.00 target price (up from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. The Goldman Sachs Group assumed coverage on shares of Lam Research in a report on Thursday, July 10th. They set a "buy" rating and a $115.00 target price for the company. B. Riley restated a "buy" rating and set a $115.00 target price (up from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Argus upgraded shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Finally, Jefferies Financial Group raised their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.57.

Lam Research Stock Performance

Shares of NASDAQ:LRCX traded down $0.82 on Friday, hitting $96.96. 8,912,992 shares of the company were exchanged, compared to its average volume of 8,968,377. The company's 50 day moving average price is $92.49 and its two-hundred day moving average price is $81.65. Lam Research Corporation has a one year low of $56.32 and a one year high of $102.59. 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 firm has a market capitalization of $124.02 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.37 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm's revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.79 earnings per share. Research analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were given a $0.23 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.95%. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

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.