Cumberland Partners Ltd Purchases Shares of 3,000 Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Cumberland Partners Ltd has made a new investment in Lam Research Corporation, purchasing 3,000 shares valued at approximately $218,000.
• Lam Research's recent quarterly earnings reported an EPS of $1.33, surpassing the consensus estimate and marking a year-over-year revenue increase of 33.6%.
• The company recently announced a quarterly dividend of $0.23 per share, representing an annualized yield of 1.0%.

Cumberland Partners Ltd purchased a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,000 shares of the semiconductor company's stock, valued at approximately $218,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Smallwood Wealth Investment Management LLC bought a new stake in Lam Research in the 1st quarter valued at $26,000. West Paces Advisors Inc. bought a new stake in Lam Research in the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC bought a new stake in Lam Research in the 4th quarter valued at $27,000. Park Square Financial Group LLC bought a new stake in Lam Research in the 4th quarter valued at $31,000. Finally, Putney Financial Group LLC bought a new stake in Lam Research in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Stock Up 1.6%

Shares of LRCX traded up $1.53 during mid-day trading on Friday, hitting $96.37. The company's stock had a trading volume of 16,599,413 shares, compared to its average volume of 10,785,127. The company's 50-day moving average is $93.96 and its 200-day moving average is $82.44. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $102.59. The firm has a market capitalization of $123.27 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 1.29 and a beta of 1.65. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The company had revenue of $5.17 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. Lam Research's revenue for the quarter was up 33.6% compared to the same quarter last year. On average, equities research analysts forecast that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a dividend of $0.23 per share. 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 1.0%. Lam Research's dividend payout ratio is presently 22.12%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LRCX. Deutsche Bank Aktiengesellschaft set a $70.00 price target on shares of Lam Research and gave the company a "hold" rating in a report on Thursday, April 24th. Stifel Nicolaus boosted their target price on shares of Lam Research from $92.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Argus boosted their target price on shares of Lam Research from $105.00 to $120.00 and gave the stock a "buy" rating in a report on Friday. 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 report on Thursday, April 24th. Finally, Needham & Company LLC boosted their target price on shares of Lam Research from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $107.09.

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.