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

Envestnet Asset Management Inc. boosted its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 8.6% in the first quarter, according to the company in its most recent disclosure with the SEC. 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 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Fairway Wealth LLC boosted its stake in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 306 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Lam Research during the first quarter worth $26,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research during the fourth quarter worth $27,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Lam Research during the fourth quarter worth $27,000. Finally, Avalon Trust Co raised its holdings in shares of Lam Research by 791.3% during the fourth 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 period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Trading Up 1.8%

Shares of LRCX traded up $1.81 during midday trading on Thursday, hitting $101.62. The stock had a trading volume of 1,961,635 shares, compared to its average volume of 12,326,153. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The business has a 50-day simple moving average of $87.37 and a two-hundred day simple moving average of $79.49. The firm has a market cap of $129.98 billion, a P/E ratio of 28.33, a price-to-earnings-growth ratio of 1.41 and a beta of 1.68. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The company had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. During the same period last year, the company posted $7.79 earnings per share. The business's revenue for the quarter was up 24.4% on a year-over-year basis. As a group, equities analysts forecast that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's payout ratio is 25.63%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LRCX shares. Cantor Fitzgerald reissued an "overweight" rating and set a $115.00 target price (up from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. The Goldman Sachs Group started coverage on shares of Lam Research in a report on Thursday. They set a "buy" rating and a $115.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Lam Research from $75.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday. TD Securities dropped their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, UBS Group dropped their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target 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.