Buckhead Capital Management LLC Acquires Shares of 21,823 Lam Research Corporation (NASDAQ:LRCX)

Buckhead Capital Management LLC acquired a new stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 21,823 shares of the semiconductor company's stock, valued at approximately $1,587,000.

Several other institutional investors and hedge funds have also recently modified their holdings of LRCX. Huntington National Bank raised its holdings in Lam Research by 944.0% during the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock valued at $21,291,000 after buying an additional 266,527 shares during the period. Cerity Partners LLC increased its position in Lam Research by 781.9% during the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock valued at $23,920,000 after purchasing an additional 293,619 shares during the period. Pinnacle Financial Partners Inc bought a new position in Lam Research in the first quarter worth approximately $201,000. B. Riley Wealth Advisors Inc. purchased a new position in Lam Research in the fourth quarter valued at about $6,296,000. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Lam Research by 27.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock worth $3,607,000 after purchasing an additional 10,565 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Stifel Nicolaus reduced their target price 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. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the company a "hold" rating in a research report on Thursday, April 24th. UBS Group lowered their price target on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Jefferies Financial Group increased their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Finally, B. Riley restated a "buy" rating and issued a $115.00 price target (up previously from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. 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 company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $99.14.

Lam Research Stock Down 0.1%

LRCX traded down $0.13 on Friday, hitting $100.66. 8,114,872 shares of the company were exchanged, compared to its average volume of 12,303,086. The firm has a 50-day moving average price of $91.10 and a two-hundred day moving average price of $80.88. 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 Corporation has a twelve month low of $56.32 and a twelve month high of $102.19. The company has a market cap of $128.76 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its 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 firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. Lam Research's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.79 earnings per share. On average, equities analysts predict that Lam Research Corporation will post 3.71 earnings per share 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 dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is 25.63%.

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.