Blue Trust Inc. Increases Stake in Lam Research Corporation (NASDAQ:LRCX)

Blue Trust Inc. grew its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 30.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,557 shares of the semiconductor company's stock after purchasing an additional 4,606 shares during the quarter. Blue Trust Inc.'s holdings in Lam Research were worth $1,422,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of LRCX. Financial Perspectives Inc grew its stake in Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 309 shares in the last quarter. Fairway Wealth LLC boosted its holdings in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 306 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Lam Research in the fourth quarter valued at approximately $27,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research in the fourth quarter valued at approximately $27,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LRCX shares. Jefferies Financial Group boosted their price objective on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Wells Fargo & Company lowered their price target on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. TD Securities cut their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Oppenheimer reaffirmed an "outperform" rating and set a $110.00 target price (up from $80.00) on shares of Lam Research in a research note on Tuesday. Finally, B. Riley reiterated a "buy" rating and issued a $115.00 target price (up from $95.00) on shares of Lam Research in a report on Wednesday. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $92.78.

Lam Research Price Performance

LRCX opened at $92.24 on Friday. The stock's 50-day moving average price is $79.16 and its 200 day moving average price is $77.49. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $113.00. The firm has a market cap of $117.99 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.30 and a beta of 1.65. The company has a current ratio of 2.45, a quick ratio of 1.64 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The business had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter in the prior year, the company earned $7.79 earnings per share. The business's quarterly revenue was up 24.4% on a year-over-year basis. As a group, sell-side analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm 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 of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.00%. Lam Research's dividend payout ratio (DPR) is 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.

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