AIA Group Ltd Boosts Stock Holdings in Lam Research Corporation (NASDAQ:LRCX)

AIA Group Ltd raised its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 430.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,265 shares of the semiconductor company's stock after buying an additional 22,936 shares during the period. AIA Group Ltd's holdings in Lam Research were worth $2,055,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LRCX. Smallwood Wealth Investment Management LLC bought a new position in shares of Lam Research during the first quarter valued at about $26,000. West Paces Advisors Inc. bought a new position in shares of Lam Research during the fourth quarter valued at about $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of Lam Research during the fourth quarter valued at about $27,000. Park Square Financial Group LLC bought a new position in shares of Lam Research during the fourth quarter valued at about $31,000. Finally, Putney Financial Group LLC bought a new position in shares of Lam Research during the fourth quarter valued at about $36,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LRCX has been the subject of a number of research reports. Wells Fargo & Company set a $98.00 price target on shares of Lam Research and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Morgan Stanley increased their price target on shares of Lam Research from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. UBS Group increased their price target on shares of Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Bank of America decreased their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Argus increased their price target on shares of Lam Research from $105.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $107.09.

Lam Research Price Performance

Shares of LRCX opened at $102.00 on Tuesday. The company has a market capitalization of $130.47 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 1.32 and a beta of 1.65. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average of $95.92 and a 200 day moving average of $83.19. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $104.15.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. The company 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%. The firm's quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. As a group, equities research analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

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

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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