Avantax Advisory Services Inc. Purchases 7,929 Shares of Lam Research Corporation (NASDAQ:LRCX)

Avantax Advisory Services Inc. raised its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 20.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,336 shares of the semiconductor company's stock after purchasing an additional 7,929 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Lam Research were worth $3,441,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. GW&K Investment Management LLC boosted its position in Lam Research by 10.1% in the 1st quarter. GW&K Investment Management LLC now owns 1,534 shares of the semiconductor company's stock worth $112,000 after purchasing an additional 141 shares in the last quarter. Citizens National Bank Trust Department boosted its position in Lam Research by 34.0% in the 1st quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 153 shares in the last quarter. Cassaday & Co Wealth Management LLC boosted its position in Lam Research by 2.1% in the 1st quarter. Cassaday & Co Wealth Management LLC now owns 7,823 shares of the semiconductor company's stock worth $569,000 after purchasing an additional 163 shares in the last quarter. SteelPeak Wealth LLC boosted its position in Lam Research by 0.4% in the 1st quarter. SteelPeak Wealth LLC now owns 42,064 shares of the semiconductor company's stock worth $3,068,000 after purchasing an additional 178 shares in the last quarter. Finally, Transcend Capital Advisors LLC boosted its position in Lam Research by 2.3% in the 1st quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock worth $586,000 after purchasing an additional 182 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Trading Up 1.7%

Shares of LRCX stock opened at $98.62 on Tuesday. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $102.59. The firm has a market capitalization of $126.15 billion, a P/E ratio of 27.49, a PEG ratio of 1.37 and a beta of 1.68. The stock's fifty day moving average is $92.79 and its two-hundred day moving average is $81.85. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. Lam Research's dividend payout ratio is presently 25.63%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LRCX shares. The Goldman Sachs Group started coverage on Lam Research in a research report on Thursday, July 10th. They issued a "buy" rating and a $115.00 price objective on the stock. UBS Group increased their target price on Lam Research from $95.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, July 21st. TD Cowen decreased their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company increased their target price on Lam Research from $75.00 to $95.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Argus upgraded Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $101.19.

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.

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