Diversify Wealth Management LLC Raises Holdings in Lam Research Corporation (NASDAQ:LRCX)

Diversify Wealth Management LLC grew its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 16.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,205 shares of the semiconductor company's stock after buying an additional 8,719 shares during the quarter. Diversify Wealth Management LLC's holdings in Lam Research were worth $4,269,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Smallwood Wealth Investment Management LLC bought a new stake in Lam Research during the first quarter worth $26,000. West Paces Advisors Inc. bought a new position in Lam Research in the 4th quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC bought a new position in Lam Research in the 4th quarter valued at approximately $27,000. Avalon Trust Co raised its holdings in Lam Research by 791.3% during the 4th quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 364 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new position in Lam Research during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Price Performance

NASDAQ LRCX traded up $0.67 during trading hours on Friday, hitting $101.73. The company had a trading volume of 6,202,556 shares, compared to its average volume of 12,332,847. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $109.34. The firm has a 50 day simple moving average of $88.50 and a 200 day simple moving average of $79.87. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The firm has a market capitalization of $130.12 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 1.43 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion for 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 business's revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.79 earnings per share. Equities research analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were issued a $0.23 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.90%. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Analysts Set New Price Targets

Several research firms recently issued reports on LRCX. TD Cowen reduced 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. Bank of America decreased their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. 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 report on Friday, March 28th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on shares of Lam Research and gave the company a "hold" rating in a research report on Thursday, April 24th. Finally, Stifel Nicolaus dropped their price objective on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $97.48.

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.