Lam Research Corporation (NASDAQ:LRCX) Holdings Increased by Burney Co.

Burney Co. grew its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 62.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 293,878 shares of the semiconductor company's stock after purchasing an additional 113,240 shares during the period. Lam Research makes up about 0.8% of Burney Co.'s holdings, making the stock its 29th largest holding. Burney Co.'s holdings in Lam Research were worth $21,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in LRCX. FMR LLC lifted its position in shares of Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after purchasing an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Lam Research by 907.1% during the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock worth $2,265,610,000 after purchasing an additional 28,307,499 shares during the last quarter. Norges Bank purchased a new stake in shares of Lam Research during the 4th quarter worth $1,661,672,000. Finally, Invesco Ltd. lifted its position in shares of Lam Research by 909.5% during the 4th quarter. Invesco Ltd. now owns 16,858,135 shares of the semiconductor company's stock worth $1,217,663,000 after purchasing an additional 15,188,173 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LRCX. Cantor Fitzgerald reissued an "overweight" rating and issued a $115.00 price target (up from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. Needham & Company LLC reduced their price target on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Evercore ISI boosted their price target on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research 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 research report on Thursday, April 24th. Finally, Oppenheimer restated an "outperform" rating and issued a $110.00 price objective (up from $80.00) on shares of Lam Research in a research note on Tuesday, June 17th. 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. According to data from MarketBeat.com, Lam Research presently has an average rating of "Moderate Buy" and an average price target of $100.57.

Lam Research Stock Down 0.8%

LRCX stock traded down $0.82 during mid-day trading on Friday, hitting $96.96. 8,912,498 shares of the company were exchanged, compared to its average volume of 11,940,347. The firm has a fifty day simple moving average of $92.24 and a 200 day simple moving average of $81.49. 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 $102.59. The company has a market capitalization of $124.02 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 1.37 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the firm posted $7.79 EPS. The company's revenue for the quarter was up 24.4% on a year-over-year basis. On average, research analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a $0.23 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.95%. Lam Research's dividend payout ratio is presently 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.