Generate Investment Management Ltd Acquires New Shares in Lam Research Corporation (NASDAQ:LRCX)

Generate Investment Management Ltd purchased a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 315,485 shares of the semiconductor company's stock, valued at approximately $22,936,000. Lam Research comprises 1.6% of Generate Investment Management Ltd's portfolio, making the stock its 17th biggest position.

Several other large investors also recently bought and sold shares of LRCX. Field & Main Bank raised its holdings in shares of Lam Research by 9.0% in the first quarter. Field & Main Bank now owns 2,595 shares of the semiconductor company's stock worth $189,000 after acquiring an additional 215 shares during the last quarter. Investment Partners Asset Management Inc. increased its position in Lam Research by 5.4% during the 1st quarter. Investment Partners Asset Management Inc. now owns 4,373 shares of the semiconductor company's stock worth $318,000 after purchasing an additional 226 shares in the last quarter. Childress Capital Advisors LLC raised its stake in Lam Research by 6.1% in the 1st quarter. Childress Capital Advisors LLC now owns 4,178 shares of the semiconductor company's stock valued at $304,000 after purchasing an additional 240 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in Lam Research by 5.5% in the 1st quarter. Salem Investment Counselors Inc. now owns 4,716 shares of the semiconductor company's stock valued at $344,000 after purchasing an additional 246 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its stake 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 purchasing an additional 248 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Stock Up 0.4%

LRCX stock traded up $0.39 during trading on Wednesday, reaching $96.02. The stock had a trading volume of 8,663,889 shares, compared to its average volume of 12,302,132. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average price of $80.64 and a 200 day moving average price of $77.81. The company has a market capitalization of $122.82 billion, a P/E ratio of 26.76, a PEG ratio of 1.29 and a beta of 1.65. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last released 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 business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The business's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the company earned $7.79 earnings per share. On average, equities analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.96%. The ex-dividend date is Wednesday, June 18th. Lam Research's payout ratio is currently 25.63%.

Analyst Ratings Changes

LRCX has been the subject of a number of analyst reports. Evercore ISI boosted their price objective on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. UBS Group cut their price target on Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the stock a "hold" rating in a research note on Thursday, April 24th. Wells Fargo & Company dropped their target price on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, Oppenheimer reissued an "outperform" rating and issued a $110.00 price target (up from $80.00) on shares of Lam Research in a research note on Tuesday, June 17th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $93.97.

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.