Asset Management One Co. Ltd. Purchases 32,462 Shares of Lam Research Corporation (NASDAQ:LRCX)

Asset Management One Co. Ltd. boosted its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 542,215 shares of the semiconductor company's stock after buying an additional 32,462 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Lam Research were worth $39,419,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Investment Partners Asset Management Inc. raised its position in shares of Lam Research by 5.4% during the 1st quarter. Investment Partners Asset Management Inc. now owns 4,373 shares of the semiconductor company's stock valued at $318,000 after acquiring an additional 226 shares during the last quarter. Childress Capital Advisors LLC grew its stake in shares of Lam Research by 6.1% during the first quarter. Childress Capital Advisors LLC now owns 4,178 shares of the semiconductor company's stock worth $304,000 after purchasing an additional 240 shares during the period. Salem Investment Counselors Inc. grew its stake in shares of Lam Research by 5.5% during the first quarter. Salem Investment Counselors Inc. now owns 4,716 shares of the semiconductor company's stock worth $344,000 after purchasing an additional 246 shares during the period. Legacy Wealth Asset Management LLC increased its holdings in Lam Research by 1.9% in the first quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company's stock valued at $963,000 after purchasing an additional 248 shares during the last quarter. Finally, ORG Partners LLC lifted its stake in Lam Research by 19.2% in the first quarter. ORG Partners LLC now owns 1,562 shares of the semiconductor company's stock valued at $114,000 after buying an additional 252 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LRCX. Jefferies Financial Group increased their price target on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, March 28th. TD Cowen cut their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. UBS Group reduced their price target on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus lowered their price objective on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Needham & Company LLC dropped their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $93.97.

Lam Research Stock Up 0.3%

Shares of LRCX stock traded up $0.33 during trading on Thursday, reaching $96.35. The company's stock had a trading volume of 539,818 shares, compared to its average volume of 12,268,755. Lam Research Corporation has a one year low of $56.32 and a one year high of $113.00. The business has a fifty day moving average price of $81.26 and a 200-day moving average price of $77.94. The company has a market cap of $123.25 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 1.35 and a beta of 1.65. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39.

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 the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The company's revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the previous year, the firm posted $7.79 EPS. Analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.95%. Lam Research's dividend payout ratio is 25.63%.

Lam Research 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.