Chatham Capital Group Inc. Makes New Investment in Lam Research Co. (NASDAQ:LRCX)

Chatham Capital Group Inc. bought a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,735 shares of the semiconductor company's stock, valued at approximately $635,000.

A number of other institutional investors also recently bought and sold shares of the company. Centerpoint Advisors LLC raised its stake in shares of Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock valued at $72,000 after acquiring an additional 900 shares during the period. Huntington National Bank boosted 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 acquiring an additional 266,527 shares during the period. ICICI Prudential Asset Management Co Ltd boosted its holdings in Lam Research by 1,401.1% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 70,475 shares of the semiconductor company's stock valued at $5,090,000 after acquiring an additional 65,780 shares during the period. Cerity Partners LLC boosted its holdings 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 acquiring an additional 293,619 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Lam Research during the 4th quarter valued at about $6,296,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. TD Cowen dropped their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Needham & Company LLC dropped their price objective on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 24th. UBS Group dropped their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Oppenheimer dropped their price objective on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $91.56.

Lam Research Stock Up 0.2%

Shares of NASDAQ:LRCX opened at $84.91 on Friday. The company has a market capitalization of $108.61 billion, a PE ratio of 25.79, a P/E/G ratio of 1.47 and a beta of 1.65. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The firm has a 50 day simple moving average of $74.24 and a 200-day simple moving average of $76.24.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company's revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.79 EPS. On average, equities analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.08%. 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.

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