Aspire Private Capital LLC Purchases New Stake in Lam Research Corporation (NASDAQ:LRCX)

Aspire Private Capital LLC purchased a new stake 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 firm purchased 10,054 shares of the semiconductor company's stock, valued at approximately $731,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after purchasing an additional 108,619,564 shares during the last quarter. FMR LLC increased its stake in Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after acquiring an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after acquiring an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC increased its stake in Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock worth $2,265,610,000 after acquiring an additional 28,307,499 shares during the last quarter. Finally, Norges Bank acquired a new stake in Lam Research during the fourth quarter worth $1,661,672,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LRCX. Morgan Stanley raised their target price on Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Barclays cut their target price on Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Cantor Fitzgerald reissued an "overweight" rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, April 24th. Wells Fargo & Company cut their target price on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, Argus raised Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.78.

Lam Research Trading Down 1.9%

NASDAQ:LRCX opened at $90.49 on Friday. The firm has a market cap of $115.75 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 1.30 and a beta of 1.65. The stock has a fifty day moving average price of $79.62 and a 200 day moving average price of $77.57. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $113.00. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39.

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, beating analysts' consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. Lam Research's revenue was up 24.4% compared to the same quarter last year. During the same period last year, the business posted $7.79 earnings per share. Sell-side analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.02%. 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.

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