Cetera Investment Advisers Grows Stake in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Cetera Investment Advisers has increased its holdings in Lam Research Corporation by 7.7%, bringing their total shares to 353,592, valued at approximately $25.7 million as of the latest SEC filing.
• Lam Research has a strong institutional ownership, with 84.61% of its stock owned by institutional investors, which includes several newly acquired positions by various hedge funds.
• The stock has a current price of $96.96 and a market cap of $124.02 billion, with analysts projecting a consensus price target of around $100.57.

Cetera Investment Advisers lifted its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 7.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 353,592 shares of the semiconductor company's stock after buying an additional 25,348 shares during the period. Cetera Investment Advisers' holdings in Lam Research were worth $25,706,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GW&K Investment Management LLC increased its stake in Lam Research by 10.1% in the 1st quarter. GW&K Investment Management LLC now owns 1,534 shares of the semiconductor company's stock valued at $112,000 after purchasing an additional 141 shares in the last quarter. Citizens National Bank Trust Department increased its stake in Lam Research by 34.0% in the 1st quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 153 shares in the last quarter. Cassaday & Co Wealth Management LLC increased its stake in Lam Research by 2.1% in the 1st quarter. Cassaday & Co Wealth Management LLC now owns 7,823 shares of the semiconductor company's stock valued at $569,000 after purchasing an additional 163 shares in the last quarter. SteelPeak Wealth LLC increased its stake in Lam Research by 0.4% in the 1st 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 in the last quarter. Finally, Transcend Capital Advisors LLC increased its stake in Lam Research by 2.3% in the 1st quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock valued at $586,000 after purchasing an additional 182 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Up 0.3%

NASDAQ:LRCX traded up $0.32 during mid-day trading on Tuesday, hitting $98.94. The company had a trading volume of 7,279,984 shares, compared to its average volume of 11,881,548. The business has a fifty day simple moving average of $92.79 and a 200-day simple moving average of $81.85. 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 1 year low of $56.32 and a 1 year high of $102.59. The firm has a market capitalization of $126.56 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.37 and a beta of 1.68.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.93%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Analysts Set New Price Targets

LRCX has been the subject of several research analyst reports. TD Cowen dropped their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus raised their price target on Lam Research from $92.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday. Oppenheimer reissued an "outperform" rating and set a $110.00 price target (up previously from $80.00) on shares of Lam Research in a research report on Tuesday, June 17th. Barclays set a $83.00 price target on Lam Research and gave the stock an "equal weight" rating in a research report on Monday. Finally, B. Riley reissued a "buy" rating and set a $115.00 price target (up previously from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and an average target price of $102.05.

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.