Lam Research Corporation (NASDAQ:LRCX) Shares Bought by Allworth Financial LP

Allworth Financial LP increased its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 63.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 73,107 shares of the semiconductor company's stock after acquiring an additional 28,329 shares during the period. Allworth Financial LP's holdings in Lam Research were worth $5,183,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Lam Research by 892.7% during the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock worth $8,724,498,000 after purchasing an additional 108,619,564 shares during the period. FMR LLC increased its holdings in Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares during the period. Ameriprise Financial Inc. increased 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 during the period. Geode Capital Management LLC increased its holdings in Lam Research by 907.1% during the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock worth $2,265,610,000 after purchasing an additional 28,307,499 shares during the period. Finally, Norges Bank purchased a new position in Lam Research during the 4th quarter worth $1,661,672,000. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on LRCX. Argus upgraded Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Morgan Stanley lifted their price target on Lam Research from $82.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Evercore ISI lifted their price target on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. TD Cowen cut their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Barclays cut their price target on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $97.48.

Lam Research Stock Performance

LRCX traded up $0.67 on Friday, reaching $101.73. 6,202,556 shares of the stock were exchanged, compared to its average volume of 12,332,847. The company's 50-day moving average price is $88.50 and its 200 day moving average price is $79.87. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $109.34. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The firm has a market capitalization of $130.12 billion, a PE ratio of 28.35, a PEG ratio of 1.43 and a beta of 1.68.

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

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.90%. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

About Lam Research

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.