Columbia Asset Management Invests $345,000 in Lam Research Co. (NASDAQ:LRCX)

Columbia Asset Management purchased a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,750 shares of the semiconductor company's stock, valued at approximately $345,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Perspectives Inc raised its stake in shares of Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 309 shares during the last quarter. Fairway Wealth LLC raised its stake in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 306 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Lam Research in the fourth quarter worth about $27,000. West Paces Advisors Inc. purchased a new position in shares of Lam Research in the fourth quarter worth about $27,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in shares of Lam Research in the fourth quarter worth about $27,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Price Performance

LRCX traded up $1.44 during trading on Friday, hitting $86.35. The company's stock had a trading volume of 7,875,825 shares, compared to its average volume of 12,286,700. 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 business's fifty day simple moving average is $74.51 and its 200 day simple moving average is $76.42. The firm has a market capitalization of $110.45 billion, a price-to-earnings ratio of 26.23, a P/E/G ratio of 1.47 and a beta of 1.65.

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

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's payout ratio is currently 25.63%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LRCX. TD Securities reduced their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company reduced their price objective on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the stock a "hold" rating in a research note on Thursday, April 24th. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, April 24th. Finally, Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and raised their price objective for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. 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 has a consensus rating of "Moderate Buy" and a consensus target price of $90.87.

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.