E Fund Management Co. Ltd. Has $4.34 Million Stake in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• E Fund Management Co. Ltd. increased its stake in Lam Research Corporation by 42.4%, owning 59,713 shares valued at about $4.34 million as of the last quarter.
• Several hedge funds reported significant increases in their holdings in Lam Research, with Ameriprise Financial Inc. growing its investment by 950.5% during the previous quarter.
• Lam Research announced a quarterly dividend of $0.23 per share, representing an annualized dividend of $0.92 and a yield of 0.9%.

E Fund Management Co. Ltd. increased its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 42.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,713 shares of the semiconductor company's stock after purchasing an additional 17,779 shares during the period. E Fund Management Co. Ltd.'s holdings in Lam Research were worth $4,341,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Ameriprise Financial Inc. grew its holdings in shares of Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after buying an additional 31,255,726 shares during the last quarter. Northern Trust Corp lifted its position in Lam Research by 1,067.0% in the 4th quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock valued at $1,146,235,000 after acquiring an additional 14,509,407 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Lam Research by 6,383.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock valued at $980,500,000 after acquiring an additional 13,365,317 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Lam Research during the 4th quarter valued at about $792,161,000. Finally, Vanguard Group Inc. increased its holdings in Lam Research by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 129,152,102 shares of the semiconductor company's stock worth $9,389,358,000 after purchasing an additional 8,364,375 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LRCX shares. Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the company a "hold" rating in a report on Thursday, April 24th. The Goldman Sachs Group began coverage on Lam Research in a research note on Thursday, July 10th. They set a "buy" rating and a $115.00 price objective on the stock. Needham & Company LLC lifted their price objective on shares of Lam Research from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Bank of America lowered their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, KeyCorp raised their price target on shares of Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.09.

Lam Research Stock Up 3.2%

LRCX opened at $105.28 on Wednesday. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $105.64. The company has a market cap of $134.67 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.32 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. The company has a 50 day moving average of $96.35 and a 200 day moving average of $83.35.

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

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is 22.12%.

About Lam Research

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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