Financial Counselors Inc. boosted its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 5.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,973 shares of the semiconductor company's stock after buying an additional 6,632 shares during the period. Financial Counselors Inc.'s holdings in Lam Research were worth $8,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in LRCX. Raleigh Capital Management Inc. raised its holdings in Lam Research by 248.4% in the 1st quarter. Raleigh Capital Management Inc. now owns 3,139 shares of the semiconductor company's stock worth $228,000 after purchasing an additional 2,238 shares during the period. YANKCOM Partnership increased its holdings in shares of Lam Research by 10.0% in the first quarter. YANKCOM Partnership now owns 2,329 shares of the semiconductor company's stock valued at $169,000 after purchasing an additional 212 shares during the last quarter. Callan Capital LLC increased its holdings in shares of Lam Research by 14.7% in the first quarter. Callan Capital LLC now owns 5,271 shares of the semiconductor company's stock valued at $383,000 after purchasing an additional 675 shares during the last quarter. TD Private Client Wealth LLC grew its position in Lam Research by 13.4% in the first quarter. TD Private Client Wealth LLC now owns 6,285 shares of the semiconductor company's stock worth $457,000 after acquiring an additional 743 shares during the period. Finally, Capital Advisors Inc. OK grew its position in Lam Research by 0.6% in the first quarter. Capital Advisors Inc. OK now owns 29,927 shares of the semiconductor company's stock worth $2,176,000 after acquiring an additional 183 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.
Lam Research Stock Up 0.7%
NASDAQ LRCX traded up $0.67 during trading hours on Friday, hitting $101.73. The company had a trading volume of 6,202,556 shares, compared to its average volume of 12,332,847. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $109.34. The company has a market capitalization of $130.12 billion, a price-to-earnings ratio of 28.35, a P/E/G ratio of 1.43 and a beta of 1.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The firm's 50 day moving average is $88.50 and its 200 day moving average is $79.87.
Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to analysts' expectations 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 last year, the company posted $7.79 earnings per share. Sell-side analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.
Lam Research Dividend Announcement
The business also recently disclosed 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. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.90%. Lam Research's dividend payout ratio is presently 25.63%.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. Citigroup reiterated a "buy" rating and issued a $108.00 price objective (up from $87.00) on shares of Lam Research in a research report on Monday. Needham & Company LLC lowered their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Bank of America lowered their price objective on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Morgan Stanley increased their price objective on Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Finally, TD Cowen lowered their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $97.48.
Read Our Latest Analysis on Lam Research
About Lam Research
(
Free Report)
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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