Chesley Taft & Associates LLC Acquires New Position in Lam Research Co. (NASDAQ:LRCX)

Chesley Taft & Associates LLC acquired a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,040 shares of the semiconductor company's stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Perspectives Inc grew its holdings in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. Fairway Wealth LLC grew its holdings in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after buying an additional 306 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in Lam Research in the 4th quarter worth approximately $27,000. West Paces Advisors Inc. bought a new position in Lam Research in the 4th quarter worth approximately $27,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Lam Research in the 4th quarter worth approximately $27,000. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

LRCX opened at $86.35 on Friday. The stock has a fifty day moving average of $74.51 and a 200-day moving average of $76.35. The firm has a market capitalization of $110.45 billion, a P/E ratio of 26.23, a PEG ratio of 1.47 and a beta of 1.65. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company's revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.79 earnings per share. Equities analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of recent analyst reports. Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and increased their price objective for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Mizuho increased their price objective on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. TD Securities decreased their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the stock a "hold" rating in a research report on Thursday, April 24th. Finally, Evercore ISI upped their target price on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.56.

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.

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