Goldman Sachs Group Inc. Has $693.32 Million Position in Lam Research Corporation (NASDAQ:LRCX)

Goldman Sachs Group Inc. lifted its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 25.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,536,708 shares of the semiconductor company's stock after acquiring an additional 1,953,221 shares during the period. Goldman Sachs Group Inc. owned approximately 0.75% of Lam Research worth $693,319,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. GW&K Investment Management LLC raised its stake in Lam Research by 10.1% during the first quarter. GW&K Investment Management LLC now owns 1,534 shares of the semiconductor company's stock worth $112,000 after acquiring an additional 141 shares in the last quarter. Citizens National Bank Trust Department grew its position in Lam Research by 34.0% during the 1st quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock worth $44,000 after acquiring an additional 153 shares during the last quarter. Cassaday & Co Wealth Management LLC raised its position in Lam Research by 2.1% in the first quarter. Cassaday & Co Wealth Management LLC now owns 7,823 shares of the semiconductor company's stock valued at $569,000 after purchasing an additional 163 shares during the last quarter. SteelPeak Wealth LLC increased its stake in shares of Lam Research by 0.4% in the first quarter. SteelPeak Wealth LLC now owns 42,064 shares of the semiconductor company's stock valued at $3,068,000 after buying an additional 178 shares during the period. Finally, Transcend Capital Advisors LLC boosted its position in Lam Research by 2.3% during the 1st quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock worth $586,000 after buying an additional 182 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Evercore ISI lifted their target price on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Raymond James Financial lifted their target price on shares of Lam Research from $90.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Cantor Fitzgerald reissued an "overweight" rating and issued a $115.00 price objective (up from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. UBS Group lifted their target price on Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Finally, Mizuho lifted their price target on shares of Lam Research from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $107.09.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $95.94 on Thursday. Lam Research Corporation has a one year low of $56.32 and a one year high of $102.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. The firm has a market capitalization of $122.72 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 1.27 and a beta of 1.65. The company's fifty day moving average price is $94.80 and its 200-day moving average price is $82.76.

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

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's payout ratio is 22.12%.

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.

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