GAMMA Investing LLC Acquires 5,213 Shares of Lam Research Corporation (NASDAQ:LRCX)

GAMMA Investing LLC lifted its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 21.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 29,408 shares of the semiconductor company's stock after purchasing an additional 5,213 shares during the period. GAMMA Investing LLC's holdings in Lam Research were worth $2,138,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Legacy Wealth Asset Management LLC boosted its position in shares of Lam Research by 1.9% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company's stock worth $963,000 after acquiring an additional 248 shares in the last quarter. Paladin Wealth LLC boosted its position in shares of Lam Research by 4.0% during the 1st quarter. Paladin Wealth LLC now owns 7,489 shares of the semiconductor company's stock worth $544,000 after acquiring an additional 289 shares in the last quarter. Fairway Wealth LLC boosted its position in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 306 shares in the last quarter. Bell Investment Advisors Inc boosted its position in shares of Lam Research by 836.6% during the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 343 shares in the last quarter. Finally, Range Financial Group LLC boosted its position in shares of Lam Research by 9.1% during the 1st quarter. Range Financial Group LLC now owns 4,319 shares of the semiconductor company's stock worth $314,000 after acquiring an additional 359 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

LRCX stock opened at $97.20 on Friday. The firm has a market cap of $124.33 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 1.37 and a beta of 1.65. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $113.00. The company's fifty day simple moving average is $82.59 and its 200 day simple moving average is $78.22.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its 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 business 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 revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.79 earnings per share. On average, analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is currently 25.63%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LRCX shares. Bank of America reduced their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Argus upgraded shares of Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Cantor Fitzgerald restated an "overweight" rating and issued a $115.00 target price (up previously from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. Stifel Nicolaus cut their target price 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. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the company a "hold" rating in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $93.97.

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.

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