Envestnet Portfolio Solutions Inc. Raises Holdings in Lam Research Corporation (NASDAQ:LRCX)

Envestnet Portfolio Solutions Inc. grew its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 17.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 153,355 shares of the semiconductor company's stock after purchasing an additional 22,971 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Lam Research were worth $11,149,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Financial Perspectives Inc grew its holdings in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 309 shares during the last quarter. Fairway Wealth LLC grew its holdings in shares of Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 306 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Lam Research during the fourth quarter worth about $27,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research during the fourth quarter worth about $27,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Lam Research during the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Price Performance

LRCX stock opened at $92.24 on Friday. The firm has a 50 day moving average of $79.16 and a 200-day moving average of $77.49. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $113.00. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The company has a market cap of $117.99 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.30 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $4.64 billion. During the same period last year, the firm earned $7.79 EPS. The company's revenue for the quarter was up 24.4% on a year-over-year basis. As a group, equities analysts expect that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.00%. Lam Research's payout ratio is 25.63%.

Wall Street Analyst Weigh In

LRCX has been the subject of several recent research reports. Needham & Company LLC decreased their target price on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Jefferies Financial Group increased their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and increased their target price for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. TD Cowen decreased their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, TD Securities decreased their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $92.78.

Lam Research 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.

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