Financial Advisors Network Inc. Has $2.49 Million Stock Holdings in Lam Research Corporation $LRCX

Key Points

• Financial Advisors Network Inc. increased its stake in Lam Research Corporation by 18.5% in the first quarter, holding a total of $2.49 million worth of shares after acquiring an additional 5,354 shares.
• Lam Research's stock has seen a 7.3% decline recently, with shares opening at $99.51, despite strong quarterly earnings that surpassed analysts' expectations.
• Analysts have set a consensus target price of $107.09 for Lam Research, with many recommending it as a Moderate Buy, reflecting a generally positive outlook on the company's performance.

Financial Advisors Network Inc. raised its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 18.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,249 shares of the semiconductor company's stock after acquiring an additional 5,354 shares during the period. Financial Advisors Network Inc.'s holdings in Lam Research were worth $2,490,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LRCX. Smallwood Wealth Investment Management LLC bought a new position in shares of Lam Research in the 1st quarter valued at $26,000. West Paces Advisors Inc. bought a new position in shares of Lam Research in the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of Lam Research in the 4th quarter valued at $27,000. Park Square Financial Group LLC bought a new position in shares of Lam Research in the 4th quarter valued at $31,000. Finally, Putney Financial Group LLC bought a new position in shares of Lam Research in the 4th quarter valued at $36,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Down 7.3%

Shares of NASDAQ:LRCX opened at $99.51 on Monday. The company has a market capitalization of $125.94 billion, a price-to-earnings ratio of 23.92, 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. The business's 50-day moving average is $97.50 and its 200-day moving average is $83.98. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $108.02.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted 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 business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the prior year, the business earned $1.03 EPS. The firm's revenue for the quarter was up 33.6% on a year-over-year basis. Equities research analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

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

Analysts Set New Price Targets

LRCX has been the topic of several recent analyst reports. Evercore ISI lifted their price target on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Stifel Nicolaus lifted their price target on Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Summit Insights lowered Lam Research from a "buy" rating to a "hold" rating in a research note on Thursday, July 31st. Mizuho boosted their price objective on Lam Research from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the stock a "hold" rating in a research report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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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