Ballentine Partners LLC Raises Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Ballentine Partners LLC grew its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 10.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,894 shares of the semiconductor company's stock after acquiring an additional 5,192 shares during the period. Ballentine Partners LLC's holdings in Lam Research were worth $3,845,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in LRCX. Smallwood Wealth Investment Management LLC purchased a new stake in Lam Research during the first quarter worth about $26,000. West Paces Advisors Inc. purchased a new stake in Lam Research during the fourth quarter worth about $27,000. Mpwm Advisory Solutions LLC purchased a new stake in Lam Research during the fourth quarter worth about $27,000. Avalon Trust Co boosted its holdings in Lam Research by 791.3% during the fourth quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock worth $30,000 after buying an additional 364 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in Lam Research during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Trading Up 0.7%

NASDAQ:LRCX traded up $0.67 during trading hours on Friday, reaching $101.73. 6,202,556 shares of the company were exchanged, compared to its average volume of 12,332,847. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The firm has a market cap of $130.12 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 1.43 and a beta of 1.68. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $109.34. The stock has a 50 day simple moving average of $88.50 and a 200 day simple moving average of $79.87.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted 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 company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. Lam Research's revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the firm posted $7.79 earnings per share. As a group, analysts predict that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were paid 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 was Wednesday, June 18th. Lam Research's dividend payout ratio is presently 25.63%.

Analyst Ratings Changes

LRCX has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their price objective on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Needham & Company LLC reduced their price target on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on shares of Lam Research and gave the company a "hold" rating in a report on Thursday, April 24th. Bank of America reduced their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Finally, Barclays reduced their price target 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. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $97.48.

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.