Choreo LLC Grows Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Choreo LLC boosted its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 17.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 42,006 shares of the semiconductor company's stock after acquiring an additional 6,376 shares during the period. Choreo LLC's holdings in Lam Research were worth $3,135,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Huntington National Bank boosted its stake in Lam Research by 944.0% during the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock worth $21,291,000 after buying an additional 266,527 shares during the period. Cerity Partners LLC raised its holdings in Lam Research by 781.9% in the fourth 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 in the last quarter. Pinnacle Financial Partners Inc acquired a new stake in Lam Research in the first quarter valued at approximately $201,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Lam Research during the 4th quarter worth approximately $6,296,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Lam Research by 27.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock worth $3,607,000 after buying an additional 10,565 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LRCX. Stifel Nicolaus dropped their price objective on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Cantor Fitzgerald restated an "overweight" rating and set a $115.00 target price (up from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. The Goldman Sachs Group began coverage on shares of Lam Research in a research report on Thursday, July 10th. They set a "buy" rating and a $115.00 target price on the stock. Needham & Company LLC decreased their target price on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Evercore ISI boosted their target price on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $100.57.

Lam Research Trading Down 0.8%

Shares of NASDAQ LRCX traded down $0.82 on Friday, reaching $96.96. 8,912,992 shares of the company traded hands, compared to its average volume of 11,941,015. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $102.59. The company has a 50 day moving average of $92.24 and a 200 day moving average of $81.49. 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 stock has a market capitalization of $124.02 billion, a PE ratio of 27.02, a P/E/G ratio of 1.37 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the company posted $7.79 EPS. The company's quarterly revenue was up 24.4% compared to the same quarter last year. On average, equities research analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio is currently 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.