Lam Research Corporation (NASDAQ:LRCX) Shares Purchased by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. boosted its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 27.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,505 shares of the semiconductor company's stock after purchasing an additional 10,565 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Lam Research were worth $3,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. One Charles Private Wealth Services LLC grew its stake in shares of Lam Research by 843.4% during the 4th quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock valued at $289,000 after buying an additional 3,576 shares during the period. Brighton Jones LLC grew its stake in shares of Lam Research by 1,032.4% during the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after buying an additional 12,936 shares during the period. Proficio Capital Partners LLC grew its stake in shares of Lam Research by 966.8% during the 4th quarter. Proficio Capital Partners LLC now owns 36,986 shares of the semiconductor company's stock valued at $2,672,000 after buying an additional 33,519 shares during the period. Freestone Capital Holdings LLC purchased a new stake in shares of Lam Research during the 4th quarter valued at $201,000. Finally, Callan Family Office LLC purchased a new stake in shares of Lam Research during the 4th quarter valued at $1,020,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LRCX. Evercore ISI boosted their price objective on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Citigroup reissued a "buy" rating and issued a $108.00 price objective (up previously from $87.00) on shares of Lam Research in a research report on Monday. Barclays reduced their target price on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. B. Riley reiterated a "buy" rating and issued a $115.00 price target (up from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Finally, Needham & Company LLC cut their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.10.

Lam Research Stock Down 0.7%

LRCX stock traded down $0.67 during trading on Monday, reaching $98.14. The stock had a trading volume of 7,238,322 shares, compared to its average volume of 12,353,325. Lam Research Corporation has a 1-year low of $56.32 and a 1-year 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 company has a market capitalization of $125.53 billion, a P/E ratio of 27.35, a PEG ratio of 1.39 and a beta of 1.68. The firm has a fifty day moving average price of $85.70 and a 200 day moving average price of $79.03.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued 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 business had revenue of $4.72 billion for 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 revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $7.79 EPS. On average, equities analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.94%. Lam Research's dividend payout ratio (DPR) is 25.63%.

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.