Envestnet Asset Management Inc. Purchases 246,995 Shares of Lam Research Corporation (NASDAQ:LRCX)

Envestnet Asset Management Inc. boosted its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,117,325 shares of the semiconductor company's stock after purchasing an additional 246,995 shares during the quarter. Envestnet Asset Management Inc. owned about 0.24% of Lam Research worth $226,630,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock worth $8,724,498,000 after acquiring an additional 108,619,564 shares during the last quarter. FMR LLC raised its stake in shares of Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. boosted its position 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. Geode Capital Management LLC grew its holdings in Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock worth $2,265,610,000 after buying an additional 28,307,499 shares in the last quarter. Finally, Norges Bank purchased a new stake in Lam Research in the 4th quarter valued at $1,661,672,000. Institutional investors own 84.61% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on LRCX shares. B. Riley reiterated a "buy" rating and issued a $115.00 target price (up previously from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. Needham & Company LLC reduced their price objective on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Morgan Stanley lifted their target price on shares of Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Argus raised Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Oppenheimer reissued an "outperform" rating and issued a $110.00 price objective (up previously from $80.00) on shares of Lam Research in a research report on Tuesday, June 17th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $97.48.

Lam Research Price Performance

Shares of LRCX stock traded up $0.67 on Friday, reaching $101.73. The company's stock had a trading volume of 6,202,556 shares, compared to its average volume of 12,332,847. The company has a market capitalization of $130.12 billion, a P/E ratio of 28.35, a PEG ratio of 1.43 and a beta of 1.68. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The stock's 50 day simple moving average is $88.50 and its 200-day simple moving average is $79.87. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $109.34.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 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 return on equity of 53.21% and a net margin of 27.18%. Lam Research's revenue was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.79 earnings per share. As a group, equities analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) 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.