Diversified Trust Co Buys 19,613 Shares of Lam Research Corporation (NASDAQ:LRCX)

Diversified Trust Co raised its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 524.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,354 shares of the semiconductor company's stock after buying an additional 19,613 shares during the period. Diversified Trust Co's holdings in Lam Research were worth $1,698,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Field & Main Bank boosted its stake in shares of Lam Research by 9.0% in the 1st quarter. Field & Main Bank now owns 2,595 shares of the semiconductor company's stock valued at $189,000 after purchasing an additional 215 shares in the last quarter. Investment Partners Asset Management Inc. boosted its stake in shares of Lam Research by 5.4% in the 1st quarter. Investment Partners Asset Management Inc. now owns 4,373 shares of the semiconductor company's stock valued at $318,000 after purchasing an additional 226 shares in the last quarter. Childress Capital Advisors LLC boosted its stake in shares of Lam Research by 6.1% in the 1st quarter. Childress Capital Advisors LLC now owns 4,178 shares of the semiconductor company's stock valued at $304,000 after purchasing an additional 240 shares in the last quarter. Salem Investment Counselors Inc. boosted its stake in shares of Lam Research by 5.5% in the 1st quarter. Salem Investment Counselors Inc. now owns 4,716 shares of the semiconductor company's stock valued at $344,000 after purchasing an additional 246 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its stake in shares of Lam Research by 1.9% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company's stock valued at $963,000 after purchasing an additional 248 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LRCX. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $115.00 price objective (up previously from $90.00) on shares of Lam Research in a research note on Tuesday. Wells Fargo & Company cut their price objective on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. UBS Group dropped their price target on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, April 14th. TD Cowen dropped their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Bank of America dropped their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.97.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $97.20 on Friday. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $113.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The company's 50-day moving average is $82.59 and its 200 day moving average is $78.22. The stock has a market capitalization of $124.33 billion, a P/E ratio of 27.09, a P/E/G ratio of 1.36 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The company 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 quarterly revenue was up 24.4% compared to the same quarter last year. During the same period last year, the business earned $7.79 EPS. On average, sell-side analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm 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 is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.95%. 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.

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