CCM Investment Group LLC Buys Shares of 68,739 Lam Research Corporation (NASDAQ:LRCX)

Key Points

• CCM Investment Group LLC invested approximately $4.99 million to acquire a new stake in Lam Research Corporation, purchasing 68,739 shares of the semiconductor company in the first quarter.
• Lam Research has received multiple price target adjustments from analysts, with a current average price target of $107.09 and a consensus rating of "Moderate Buy."
• The company reported a 33.6% year-over-year revenue increase in its latest quarterly earnings, posting a net margin of 29.07% and earnings per share of $1.33, surpassing estimates.

CCM Investment Group LLC purchased a new stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 68,739 shares of the semiconductor company's stock, valued at approximately $4,991,000.

A number of other large investors have also made changes to their positions in LRCX. Vanguard Group Inc. boosted its stake in Lam Research by 6.9% in the first quarter. Vanguard Group Inc. now owns 129,152,102 shares of the semiconductor company's stock valued at $9,389,358,000 after acquiring an additional 8,364,375 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after buying an additional 31,255,726 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Lam Research by 2.8% during the first quarter. Invesco Ltd. now owns 17,330,771 shares of the semiconductor company's stock worth $1,259,947,000 after buying an additional 472,636 shares in the last quarter. Northern Trust Corp increased its stake in Lam Research by 1,067.0% in the 4th quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock valued at $1,146,235,000 after buying an additional 14,509,407 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Lam Research by 6,383.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock valued at $980,500,000 after buying an additional 13,365,317 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LRCX. Wells Fargo & Company set a $98.00 price objective on shares of Lam Research and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. UBS Group increased their target price on shares of Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Mizuho raised their target price on shares of Lam Research from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Lam Research from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Citigroup raised their target price on shares of Lam Research from $108.00 to $113.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.09.

Lam Research Stock Up 3.2%

LRCX traded up $3.28 during midday trading on Tuesday, hitting $105.28. The company had a trading volume of 11,882,866 shares, compared to its average volume of 11,956,497. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $105.64. The stock's 50 day moving average price is $95.92 and its 200 day moving average price is $83.19. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $134.67 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.32 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The firm's revenue for the quarter was up 33.6% on a year-over-year basis. On average, research analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio is currently 22.12%.

Lam Research 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.