3,175 Shares in Lam Research Corporation (NASDAQ:LRCX) Acquired by GKV Capital Management Co. Inc.

Key Points

• GKV Capital Management Co. Inc. has acquired 3,175 shares of Lam Research Corporation (NASDAQ:LRCX) valued at approximately $231,000 in the 1st quarter.
• Lam Research reported a strong quarterly earnings result with earnings per share of $1.33, surpassing analysts' estimates of $1.21, and achieving a revenue of $5.17 billion.
• The company recently declared a quarterly dividend of $0.23 per share, resulting in an annualized yield of 0.9% and a payout ratio of 22.12%.

GKV Capital Management Co. Inc. bought a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,175 shares of the semiconductor company's stock, valued at approximately $231,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinnacle Financial Partners Inc purchased a new position in shares of Lam Research in the 1st quarter worth about $201,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Lam Research in the 4th quarter worth about $6,296,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Lam Research by 27.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock worth $3,607,000 after purchasing an additional 10,565 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Lam Research by 47.8% in the 1st quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company's stock worth $8,862,000 after purchasing an additional 39,414 shares in the last quarter. Finally, Global X Japan Co. Ltd. purchased a new position in shares of Lam Research in the 1st quarter worth about $3,152,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Up 1.4%

Shares of NASDAQ:LRCX traded up $1.46 during trading on Wednesday, hitting $106.74. The stock had a trading volume of 12,115,388 shares, compared to its average volume of 11,507,004. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $107.49. The company has a market capitalization of $135.09 billion, a PE ratio of 25.66, a PEG ratio of 1.36 and a beta of 1.65. The firm's fifty day moving average is $96.79 and its 200 day moving average is $83.51. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The business's revenue was up 33.6% compared to the same quarter last year. Analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were paid a $0.23 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.9%. Lam Research's dividend payout ratio is presently 22.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LRCX shares. KeyCorp upped their price objective on Lam Research from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Mizuho boosted their target price on Lam Research from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. TD Securities lowered their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Barclays set a $83.00 target price on Lam Research and gave the company an "equal weight" rating in a research note on Monday, July 28th. Finally, UBS Group boosted their target price on Lam Research from $95.00 to $120.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Seven analysts have rated the stock with a hold rating and twenty have assigned a 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 $107.09.

Lam Research Company 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.