Fiduciary Family Office LLC Purchases Shares of 12,664 Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Fiduciary Family Office LLC has acquired 12,664 shares of Lam Research Corporation, valued at approximately $921,000, indicating growing interest from institutional investors in the semiconductor sector.
• Lam Research's quarterly earnings surpassed analyst expectations, with $1.33 earnings per share, and revenue growth of 33.6% year-over-year, totaling $5.17 billion.
• Analysts have a consensus rating of "Moderate Buy" for Lam Research, with target price estimates ranging from $100.00 to $120.00.

Fiduciary Family Office LLC purchased a new stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 12,664 shares of the semiconductor company's stock, valued at approximately $921,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Lam Research by 1,032.4% during the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock worth $1,025,000 after acquiring an additional 12,936 shares during the period. Renaissance Technologies LLC grew its holdings in Lam Research by 198.6% during the fourth quarter. Renaissance Technologies LLC now owns 88,260 shares of the semiconductor company's stock worth $6,375,000 after acquiring an additional 58,703 shares during the period. Bessemer Group Inc. grew its holdings in Lam Research by 18.4% during the fourth quarter. Bessemer Group Inc. now owns 86,609 shares of the semiconductor company's stock worth $6,256,000 after acquiring an additional 13,452 shares during the period. Phoenix Financial Ltd. grew its holdings in Lam Research by 4,569.3% during the fourth quarter. Phoenix Financial Ltd. now owns 16,903 shares of the semiconductor company's stock worth $1,222,000 after acquiring an additional 16,541 shares during the period. Finally, Scotia Capital Inc. grew its holdings in Lam Research by 899.4% during the fourth quarter. Scotia Capital Inc. now owns 29,651 shares of the semiconductor company's stock worth $2,142,000 after acquiring an additional 26,684 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Performance

LRCX opened at $101.75 on Friday. The stock's 50 day simple moving average is $95.53 and its 200 day simple moving average is $83.03. The stock has a market cap of $130.15 billion, a P/E ratio of 24.46, a P/E/G ratio of 1.29 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $102.59.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the company posted $1.03 EPS. The business's revenue for the quarter was up 33.6% compared to the same quarter last year. As a group, equities analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is 22.12%.

Analyst Ratings Changes

A number of equities analysts have issued reports on LRCX shares. Wall Street Zen upgraded Lam Research from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Morgan Stanley increased their price target on Lam Research from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Oppenheimer raised their target price on Lam Research from $110.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Needham & Company LLC raised their target price on Lam Research from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, TD Securities decreased their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $107.09.

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.

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