Chicago Capital LLC Makes New $904,000 Investment in Lam Research Corporation (NASDAQ:LRCX)

Chicago Capital LLC bought a new stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,435 shares of the semiconductor company's stock, valued at approximately $904,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of LRCX. Investment Partners Asset Management Inc. lifted its position in Lam Research by 5.4% during the first quarter. Investment Partners Asset Management Inc. now owns 4,373 shares of the semiconductor company's stock valued at $318,000 after buying an additional 226 shares in the last quarter. Salem Investment Counselors Inc. lifted its position in shares of Lam Research by 5.5% during the first quarter. Salem Investment Counselors Inc. now owns 4,716 shares of the semiconductor company's stock worth $344,000 after purchasing an additional 246 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its stake in shares of Lam Research by 1.9% in the first quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company's stock valued at $963,000 after purchasing an additional 248 shares during the period. Walker Asset Management LLC increased its stake in Lam Research by 7.8% during the 1st quarter. Walker Asset Management LLC now owns 3,862 shares of the semiconductor company's stock worth $281,000 after buying an additional 281 shares during the period. Finally, Paladin Wealth LLC lifted its holdings in Lam Research by 4.0% in the 1st quarter. Paladin Wealth LLC now owns 7,489 shares of the semiconductor company's stock worth $544,000 after buying an additional 289 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Stock Performance

LRCX traded down $0.42 during trading on Thursday, reaching $92.24. 9,373,055 shares of the company were exchanged, compared to its average volume of 12,291,497. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $113.00. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The firm has a 50 day moving average of $78.65 and a 200 day moving average of $77.39. The stock has a market cap of $117.99 billion, a P/E ratio of 25.71, a PEG ratio of 1.30 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS 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 analyst estimates of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The company's quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.79 earnings per share. On average, sell-side analysts forecast that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.00%. Lam Research's payout ratio is currently 25.63%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LRCX. Oppenheimer reaffirmed an "outperform" rating and set a $110.00 target price (up from $80.00) on shares of Lam Research in a research report on Tuesday. Cantor Fitzgerald restated an "overweight" rating and set a $90.00 price objective on shares of Lam Research in a report on Thursday, April 24th. Jefferies Financial Group upped their target price on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and raised their price target for the stock from $75.00 to $125.00 in a research report on Thursday, February 20th. Finally, Needham & Company LLC cut their price target on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $92.78.

About Lam Research

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.