Dale Q Rice Investment Management Ltd Boosts Position in Lam Research Corporation (NASDAQ:LRCX)

Dale Q Rice Investment Management Ltd grew its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 100.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,980 shares of the semiconductor company's stock after acquiring an additional 6,490 shares during the quarter. Dale Q Rice Investment Management Ltd's holdings in Lam Research were worth $944,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LRCX. Fairway Wealth LLC increased its stake in Lam Research by 900.0% in the 4th 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. Midwest Capital Advisors LLC purchased a new position in Lam Research in the 4th quarter worth about $27,000. West Paces Advisors Inc. purchased a new position in Lam Research in the 4th quarter worth about $27,000. Mpwm Advisory Solutions LLC purchased a new position in Lam Research in the 4th quarter worth about $27,000. Finally, Bell Investment Advisors Inc increased its stake in Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock worth $28,000 after buying an additional 343 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LRCX. Argus upgraded shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Oppenheimer reiterated an "outperform" rating and set a $110.00 target price (up from $80.00) on shares of Lam Research in a report on Tuesday. Bank of America dropped their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Barclays dropped their target price on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 target price on shares of Lam Research in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lam Research has an average rating of "Moderate Buy" and a consensus price target of $92.78.

Lam Research Stock Down 1.9%

Shares of NASDAQ:LRCX traded down $1.75 during trading on Friday, reaching $90.49. The stock had a trading volume of 22,922,800 shares, compared to its average volume of 12,324,740. The company has a market capitalization of $115.75 billion, a P/E ratio of 25.22, a PEG ratio of 1.30 and a beta of 1.65. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The firm's 50-day simple moving average is $79.62 and its 200 day simple moving average is $77.57. Lam Research Corporation has a one year low of $56.32 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced 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. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. Lam Research's revenue was up 24.4% on a year-over-year basis. During the same period last year, the firm posted $7.79 EPS. As a group, research analysts expect that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Wednesday, June 18th. Lam Research's payout ratio is currently 25.63%.

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.