Lam Research Corporation (NASDAQ:LRCX) Stake Boosted by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 11.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,518 shares of the semiconductor company's stock after buying an additional 2,922 shares during the period. Bleakley Financial Group LLC's holdings in Lam Research were worth $2,001,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LRCX. Citizens National Bank Trust Department boosted its holdings in shares of 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 buying an additional 153 shares during the last quarter. SteelPeak Wealth LLC lifted its position in Lam Research by 0.4% in the first quarter. SteelPeak Wealth LLC now owns 42,064 shares of the semiconductor company's stock valued at $3,068,000 after purchasing an additional 178 shares during the last quarter. Transcend Capital Advisors LLC grew its stake in shares of Lam Research by 2.3% in the first 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 during the last quarter. Capital Advisors Inc. OK raised its holdings in Lam Research by 0.6% in the 1st quarter. Capital Advisors Inc. OK now owns 29,927 shares of the semiconductor company's stock worth $2,176,000 after purchasing an additional 183 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC lifted its position in Lam Research by 33.3% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 800 shares of the semiconductor company's stock valued at $58,000 after buying an additional 200 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Evercore ISI upped their target price on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Needham & Company LLC decreased their target price 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. Citigroup restated a "buy" rating and set a $108.00 price objective (up previously from $87.00) on shares of Lam Research in a research report on Monday, July 7th. TD Cowen lowered their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, The Goldman Sachs Group initiated coverage on Lam Research in a research report on Thursday, July 10th. They set a "buy" rating and a $115.00 target price for the company. Seven research 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $99.14.

Lam Research Stock Performance

NASDAQ:LRCX traded up $0.40 during mid-day trading on Thursday, reaching $100.77. 5,692,049 shares of the stock were exchanged, compared to its average volume of 12,362,246. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $102.19. The company has a 50 day simple moving average of $90.08 and a 200-day simple moving average of $80.43. 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 stock has a market capitalization of $128.90 billion, a P/E ratio of 28.11, a P/E/G ratio of 1.43 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion during 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 quarterly revenue was up 24.4% compared to the same quarter last year. During the same period last year, the firm earned $7.79 EPS. Analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's payout ratio is currently 25.63%.

Lam Research Company 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.