Lam Research Corporation (NASDAQ:LRCX) Position Increased by Elyxium Wealth LLC

Elyxium Wealth LLC lifted its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 99.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 9,332 shares of the semiconductor company's stock after buying an additional 4,662 shares during the period. Elyxium Wealth LLC's holdings in Lam Research were worth $678,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Lam Research during the 1st quarter valued at $26,000. West Paces Advisors Inc. acquired a new position in Lam Research in the fourth quarter valued at $27,000. Mpwm Advisory Solutions LLC purchased a new stake in Lam Research during the fourth quarter valued at about $27,000. Park Square Financial Group LLC purchased a new stake in Lam Research during the fourth quarter valued at about $31,000. Finally, Cedar Wealth Management LLC acquired a new stake in Lam Research during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of research reports. Citigroup reissued a "buy" rating and issued a $108.00 target price (up previously from $87.00) on shares of Lam Research in a research note on Monday, July 7th. Bank of America lowered their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. The Goldman Sachs Group initiated 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. Jefferies Financial Group upped their target price on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Finally, Stifel Nicolaus lowered their target price 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 investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.14.

Lam Research Stock Performance

Shares of LRCX traded down $0.13 during midday trading on Friday, hitting $100.66. 8,114,872 shares of the stock traded hands, compared to its average volume of 12,303,086. The business's 50 day moving average price is $91.10 and its two-hundred day moving average price is $80.88. The firm has a market capitalization of $128.76 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.68. 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 1-year low of $56.32 and a 1-year high of $102.19.

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, beating analysts' consensus estimates of $1.00 by $0.04. The company 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 for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.79 earnings per share. Equities research analysts predict that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio is currently 25.63%.

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.