Falcon Wealth Planning Buys New Shares in Lam Research Corporation (NASDAQ:LRCX)

Falcon Wealth Planning purchased a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 5,595 shares of the semiconductor company's stock, valued at approximately $407,000.

Several other hedge funds have also recently made changes to their positions in LRCX. One Charles Private Wealth Services LLC lifted its stake in Lam Research by 843.4% in the fourth quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock valued at $289,000 after buying an additional 3,576 shares during the period. Brighton Jones LLC lifted its position in shares of Lam Research by 1,032.4% during the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after acquiring an additional 12,936 shares during the period. Illinois Municipal Retirement Fund boosted its stake in Lam Research by 483.3% during the fourth quarter. Illinois Municipal Retirement Fund now owns 85,570 shares of the semiconductor company's stock worth $6,181,000 after acquiring an additional 70,899 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in Lam Research by 960.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 16,833 shares of the semiconductor company's stock worth $1,220,000 after purchasing an additional 15,246 shares during the period. Finally, Bryn Mawr Capital Management LLC grew its stake in shares of Lam Research by 857.5% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 13,347 shares of the semiconductor company's stock valued at $964,000 after buying an additional 11,953 shares during the period. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LRCX shares. 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. Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the stock a "hold" rating in a report on Thursday, April 24th. Cantor Fitzgerald reissued an "overweight" rating and issued a $115.00 price objective (up from $90.00) on shares of Lam Research in a research note on Tuesday. Wells Fargo & Company cut their target price on Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Finally, Stifel Nicolaus decreased their price target on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Seven research 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 company. According to data from MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and an average price target of $93.97.

Lam Research Trading Up 0.9%

Shares of Lam Research stock opened at $96.84 on Friday. The stock has a market capitalization of $123.87 billion, a P/E ratio of 26.99, a P/E/G ratio of 1.35 and a beta of 1.65. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $113.00. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The stock's 50-day simple moving average is $81.92 and its 200 day simple moving average is $78.07.

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 the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The company's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.79 earnings per share. As a group, research analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

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 $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 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.

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