8,741 Shares in Lam Research Co. (NASDAQ:LRCX) Acquired by Everhart Financial Group Inc.

Everhart Financial Group Inc. bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,741 shares of the semiconductor company's stock, valued at approximately $635,000.

Other hedge funds also recently bought and sold shares of the company. Marshall Financial Group LLC acquired a new stake in Lam Research in the 1st quarter valued at approximately $2,345,000. Bar Harbor Wealth Management acquired a new stake in shares of Lam Research during the 1st quarter worth about $4,053,000. Relyea Zuckerberg Hanson LLC grew its position in Lam Research by 9.5% during the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 3,795 shares of the semiconductor company's stock worth $276,000 after acquiring an additional 329 shares during the last quarter. Albert D Mason Inc. raised its holdings in shares of Lam Research by 2.1% in the first quarter. Albert D Mason Inc. now owns 20,872 shares of the semiconductor company's stock valued at $1,517,000 after buying an additional 423 shares during the last quarter. Finally, Rockland Trust Co. bought a new stake in shares of Lam Research during the first quarter valued at approximately $259,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Down 2.3%

Shares of LRCX traded down $2.14 during trading hours on Friday, hitting $89.52. The company had a trading volume of 10,977,636 shares, compared to its average volume of 12,281,031. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $114.51 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00. The company's fifty day moving average price is $77.13 and its two-hundred day moving average price is $76.97.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the company earned $7.79 earnings per share. The company's quarterly revenue was up 24.4% on a year-over-year basis. As a group, equities analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of research reports. Oppenheimer cut their target price on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Morgan Stanley lifted their price target on shares of Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Barclays dropped their price target on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Stifel Nicolaus decreased their target price on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, UBS Group lowered their target price 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 equities 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's stock. According to data from MarketBeat, Lam Research has an average rating of "Moderate Buy" and an average price target of $90.87.

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.