Lam Research Corporation (NASDAQ:LRCX) Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 34.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,663 shares of the semiconductor company's stock after buying an additional 2,753 shares during the period. Axxcess Wealth Management LLC's holdings in Lam Research were worth $775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of LRCX. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Lam Research in the 1st quarter valued at about $26,000. West Paces Advisors Inc. purchased a new stake in shares of Lam Research in the 4th quarter valued at about $27,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Lam Research in the 4th quarter valued at about $27,000. Avalon Trust Co lifted its holdings in shares of Lam Research by 791.3% in the 4th quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 364 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in shares of Lam Research in the 4th quarter valued at about $31,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. The Goldman Sachs Group assumed coverage on Lam Research in a research note on Thursday. They set a "buy" rating and a $115.00 price objective for the company. Needham & Company LLC reduced their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Argus raised Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Stifel Nicolaus reduced their price objective on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, TD Cowen reduced their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Seven investment 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 company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $97.48.

Lam Research Price Performance

Shares of LRCX traded up $0.67 on Friday, reaching $101.73. The stock had a trading volume of 6,202,556 shares, compared to its average volume of 12,332,847. The firm has a market capitalization of $130.12 billion, a PE ratio of 28.35, a PEG ratio of 1.43 and a beta of 1.68. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average of $88.50 and a 200 day moving average of $79.87. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $109.34.

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

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio is currently 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.