Crestwood Advisors Group LLC Grows Position in Lam Research Corporation (NASDAQ:LRCX)

Crestwood Advisors Group LLC raised its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 339,568 shares of the semiconductor company's stock after acquiring an additional 11,873 shares during the period. Crestwood Advisors Group LLC's holdings in Lam Research were worth $24,687,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new position in shares of Lam Research in the first quarter valued at $26,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research in the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Lam Research in the 4th quarter valued at $27,000. Park Square Financial Group LLC acquired a new stake in shares of Lam Research in the 4th quarter valued at $31,000. Finally, Cedar Wealth Management LLC acquired a new stake in shares of Lam Research in the 4th quarter valued at $34,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LRCX shares. Wells Fargo & Company upped their price objective on shares of Lam Research from $75.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Morgan Stanley upped their price objective on shares of Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Jefferies Financial Group upped their price objective on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. TD Cowen decreased their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, TD Securities decreased their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $100.57.

Lam Research Stock Down 4.0%

Shares of LRCX stock traded down $4.05 during mid-day trading on Tuesday, reaching $97.69. 14,150,832 shares of the company's stock traded hands, compared to its average volume of 12,289,453. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $102.59. The company has a market cap of $124.96 billion, a P/E ratio of 27.23, a P/E/G ratio of 1.42 and a beta of 1.68. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The company's 50-day moving average price is $91.10 and its 200-day moving average price is $80.94.

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, beating the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the firm earned $7.79 EPS. The business's revenue for the quarter was up 24.4% compared to the same quarter last year. On average, equities analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.94%. Lam Research's payout ratio 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.