Fortem Financial Group LLC Grows Holdings in Lam Research Corporation (NASDAQ:LRCX)

Fortem Financial Group LLC grew its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 146.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,624 shares of the semiconductor company's stock after buying an additional 5,714 shares during the period. Fortem Financial Group LLC's holdings in Lam Research were worth $700,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LRCX. Smallwood Wealth Investment Management LLC purchased a new position in shares of Lam Research during the first quarter worth $26,000. West Paces Advisors Inc. purchased a new position in shares of Lam Research during the fourth quarter worth $27,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Lam Research during the fourth quarter worth $27,000. Avalon Trust Co raised its holdings in shares of Lam Research by 791.3% during the fourth quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 364 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of Lam Research during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Price Performance

LRCX traded up $0.67 on Friday, reaching $101.73. 6,202,556 shares of the company's stock were exchanged, compared to its average volume of 12,344,380. The stock has a market cap of $130.12 billion, a PE ratio of 28.35, a P/E/G ratio of 1.44 and a beta of 1.68. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $108.23. The stock's fifty day moving average price is $88.50 and its 200-day moving average price is $79.92. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64.

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 for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The firm 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%. Lam Research's quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the business posted $7.79 earnings per share. Sell-side analysts expect that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.90%. Lam Research's payout ratio is 25.63%.

Analyst Upgrades and Downgrades

LRCX has been the subject of several recent research reports. 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. Argus raised shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Stifel Nicolaus dropped their price target on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. TD Securities dropped their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Citigroup restated a "buy" rating and set a $108.00 price target (up previously from $87.00) on shares of Lam Research in a research report on Monday, July 7th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.48.

Lam Research 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.