GAMMA Investing LLC Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

GAMMA Investing LLC lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 8,736.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,137,962 shares of the semiconductor company's stock after purchasing an additional 2,113,767 shares during the period. GAMMA Investing LLC owned about 0.17% of Lam Research worth $155,430,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Perspectives Inc grew its holdings in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. Fairway Wealth LLC grew its holdings 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 valued at $25,000 after purchasing an additional 306 shares during the last quarter. Midwest Capital Advisors LLC bought a new position in shares of Lam Research during the 4th quarter valued at $27,000. West Paces Advisors Inc. bought a new position in shares of Lam Research during the 4th quarter valued at $27,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Lam Research during the 4th quarter valued at $27,000. Institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LRCX. B. Riley reissued a "buy" rating on shares of Lam Research in a research report on Thursday, April 24th. TD Cowen dropped their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Morgan Stanley increased their price target on shares of Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Bank of America dropped their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Finally, Jefferies Financial Group increased their price target on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $91.56.

Lam Research Stock Up 0.2%

LRCX traded up $0.14 during midday trading on Thursday, reaching $84.91. The company's stock had a trading volume of 10,906,395 shares, compared to its average volume of 12,261,476. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The stock's 50-day moving average is $74.24 and its 200-day moving average is $76.24. The firm has a market capitalization of $108.61 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 1.47 and a beta of 1.64. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51.

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. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the business earned $7.79 earnings per share. The business's revenue was up 24.4% on a year-over-year basis. As a group, research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.08%. Lam Research's payout ratio is 25.63%.

About Lam Research

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.