Aspetuck Financial Management LLC Makes New Investment in Lam Research Corporation (NASDAQ:LRCX)

Aspetuck Financial Management LLC bought a new position in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 25,360 shares of the semiconductor company's stock, valued at approximately $1,844,000. Lam Research makes up about 1.6% of Aspetuck Financial Management LLC's holdings, making the stock its 23rd biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of LRCX. Fairway Wealth LLC boosted its holdings in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 306 shares during the period. West Paces Advisors Inc. bought a new stake in shares of Lam Research in the 4th quarter worth approximately $27,000. Mpwm Advisory Solutions LLC bought a new stake in Lam Research in the fourth quarter valued at $27,000. Bell Investment Advisors Inc increased its position in shares of Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after buying an additional 343 shares during the period. Finally, Avalon Trust Co grew its holdings in shares of Lam Research by 791.3% during the 4th quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 364 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LRCX has been the subject of several recent research reports. Stifel Nicolaus lowered their price objective on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on shares of Lam Research and gave the company a "hold" rating in a research report on Thursday, April 24th. Barclays cut their price objective on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Oppenheimer reiterated an "outperform" rating and set a $110.00 target price (up from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. Finally, 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 research note on Thursday, April 24th. Seven 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 company has an average rating of "Moderate Buy" and a consensus target price of $93.97.

Lam Research Price Performance

Shares of LRCX traded up $0.82 during trading hours on Thursday, reaching $96.84. 9,339,691 shares of the stock traded hands, compared to its average volume of 12,302,841. The company has a market cap of $123.87 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 1.35 and a beta of 1.65. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The company's 50-day moving average price is $81.26 and its two-hundred day moving average price is $77.94. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $113.00.

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

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.95%. 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.