Cove Private Wealth LLC Takes Position in Lam Research Corporation $LRCX

Key Points

• Cove Private Wealth LLC has acquired a new position in Lam Research Corporation, purchasing 5,760 shares valued at approximately $561,000 during the second quarter.
• Lam Research recently reported a quarterly earnings per share (EPS) of $1.33, exceeding analyst expectations and marking a 33.6% year-over-year revenue increase.
• The company's quarterly dividend has increased to $0.26 per share, reflecting a more favorable yield of 0.8% compared to the previous dividend of $0.23.

Cove Private Wealth LLC purchased a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,760 shares of the semiconductor company's stock, valued at approximately $561,000.

Other large investors have also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC acquired a new stake in Lam Research in the first quarter valued at about $26,000. Park Square Financial Group LLC acquired a new stake in Lam Research in the fourth quarter valued at about $31,000. 1 North Wealth Services LLC acquired a new stake in Lam Research in the first quarter valued at about $36,000. Rossby Financial LCC acquired a new stake in Lam Research in the first quarter valued at about $37,000. Finally, Saudi Central Bank acquired a new stake in Lam Research in the first quarter valued at about $37,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Trading Up 0.2%

Shares of Lam Research stock opened at $128.33 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $133.57. The company has a market capitalization of $161.83 billion, a P/E ratio of 30.85, a P/E/G ratio of 1.62 and a beta of 1.76. The business has a 50 day moving average price of $106.28 and a 200 day moving average price of $90.11.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%.The firm had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the firm posted $1.03 EPS. The company's quarterly revenue was up 33.6% compared to the same quarter last year. Lam Research has set its Q1 2026 guidance at 1.100-1.300 EPS. Sell-side analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 24th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, September 24th. This represents a $1.04 annualized dividend and a dividend yield of 0.8%. This is an increase from Lam Research's previous quarterly dividend of $0.23. Lam Research's payout ratio is presently 25.00%.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of recent analyst reports. Argus raised their price objective on shares of Lam Research from $105.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Raymond James Financial raised their price objective on shares of Lam Research from $90.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Wells Fargo & Company set a $98.00 price target on shares of Lam Research and gave the company an "equal weight" rating in a research report on Thursday, July 31st. 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 price target for the company. Finally, Oppenheimer lifted their price target on shares of Lam Research from $110.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Twenty equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $111.35.

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.

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