Cypress Capital LLC Invests $1.57 Million in Lam Research Corporation (NASDAQ:LRCX)

Cypress Capital LLC bought a new stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,562 shares of the semiconductor company's stock, valued at approximately $1,568,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of LRCX. Fairway Wealth LLC increased its holdings 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 buying an additional 306 shares during the period. Smallwood Wealth Investment Management LLC purchased a new position in Lam Research in the 1st quarter worth approximately $26,000. West Paces Advisors Inc. bought a new stake in Lam Research in the fourth quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Lam Research during the fourth quarter valued at approximately $27,000. Finally, Bell Investment Advisors Inc grew its holdings in shares of Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 343 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LRCX shares. Stifel Nicolaus cut their price objective on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. TD Securities lowered their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. B. Riley reissued a "buy" rating and issued a $115.00 target price (up previously from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $115.00 price objective (up from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. Seven investment 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 company. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and an average price target of $94.20.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded down $0.53 during midday trading on Tuesday, hitting $96.81. The company's stock had a trading volume of 9,756,860 shares, compared to its average volume of 12,297,208. The company has a market cap of $123.83 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 1.37 and a beta of 1.65. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $113.00. The business's 50 day simple moving average is $83.29 and its 200 day simple moving average is $78.39.

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

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.95%. Lam Research's dividend payout ratio is currently 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.