Asio Capital LLC Takes Position in Lam Research Co. (NASDAQ:LRCX)

Asio Capital LLC bought a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 29,970 shares of the semiconductor company's stock, valued at approximately $2,179,000.

A number of other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC increased its position in shares of Lam Research by 4.4% during the first quarter. Brighton Jones LLC now owns 14,811 shares of the semiconductor company's stock worth $1,077,000 after purchasing an additional 622 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in Lam Research by 363.5% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 203,259 shares of the semiconductor company's stock worth $14,777,000 after purchasing an additional 159,409 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in shares of Lam Research by 6.0% during the first quarter. Foster Victor Wealth Advisors LLC now owns 259,569 shares of the semiconductor company's stock worth $17,516,000 after buying an additional 14,678 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Lam Research in the first quarter valued at about $1,842,000. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Lam Research by 8.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 14,308 shares of the semiconductor company's stock valued at $1,040,000 after buying an additional 1,161 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LRCX shares. 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. Stifel Nicolaus dropped their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Oppenheimer reduced their price target on Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Bank of America lowered their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, Mizuho raised their price objective on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. 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. According to MarketBeat.com, Lam Research presently has an average rating of "Moderate Buy" and an average target price of $90.87.

Lam Research Stock Down 2.3%

LRCX traded down $2.14 on Friday, reaching $89.52. 10,977,636 shares of the company traded hands, compared to its average volume of 12,305,432. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a market cap of $114.51 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.47 and a beta of 1.65. The stock's 50 day moving average price is $77.13 and its 200-day moving average price is $77.01.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.79 earnings per share. On average, sell-side analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.03%. The ex-dividend date is Wednesday, June 18th. 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.