Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 5,100 shares of the semiconductor company's stock, valued at approximately $371,000.
Several other large investors also recently made changes to their positions in LRCX. Smallwood Wealth Investment Management LLC bought a new stake in Lam Research in the 1st quarter valued at $26,000. West Paces Advisors Inc. bought a new stake in Lam Research in the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC bought a new stake in Lam Research in the 4th quarter valued at $27,000. Park Square Financial Group LLC bought a new stake in Lam Research in the 4th quarter valued at $31,000. Finally, Putney Financial Group LLC bought a new stake in Lam Research in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 84.61% of the company's stock.
Lam Research Price Performance
Lam Research stock traded up $1.46 during midday trading on Wednesday, reaching $106.74. The company's stock had a trading volume of 12,115,388 shares, compared to its average volume of 11,507,004. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $107.49. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average price of $96.79 and a 200-day moving average price of $83.51. The stock has a market cap of $135.09 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 1.36 and a beta of 1.65.
Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The firm had revenue of $5.17 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The business's revenue for the quarter was up 33.6% on a year-over-year basis. On average, sell-side analysts predict that Lam Research Corporation will post 3.71 EPS for the current year.
Lam Research Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, June 18th. Lam Research's payout ratio is currently 22.12%.
Analysts Set New Price Targets
Several research analysts have weighed in on LRCX shares. Needham & Company LLC increased their price objective on Lam Research from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. UBS Group increased their price objective on Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Barclays set a $83.00 price objective on Lam Research and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Morgan Stanley increased their price objective on Lam Research from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Finally, Bank of America lowered their price objective on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $107.09.
Get Our Latest Research Report on Lam Research
Lam Research Company Profile
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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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