Grove Bank & Trust acquired a new stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,372 shares of the semiconductor company's stock, valued at approximately $245,000.
Several other hedge funds have also added to or reduced their stakes in LRCX. Vanguard Group Inc. raised its stake in shares of Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after acquiring an additional 108,619,564 shares during the last quarter. FMR LLC boosted its holdings in Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after acquiring an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. increased its position in Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares during the period. Geode Capital Management LLC raised its stake in Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock worth $2,265,610,000 after buying an additional 28,307,499 shares during the last quarter. Finally, Norges Bank acquired a new position in Lam Research in the fourth quarter valued at $1,661,672,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.
Lam Research Stock Performance
Shares of Lam Research stock traded down $0.42 during mid-day trading on Thursday, hitting $92.24. 9,373,055 shares of the stock were exchanged, compared to its average volume of 12,291,497. The company has a market capitalization of $117.99 billion, a P/E ratio of 25.71, a P/E/G ratio of 1.30 and a beta of 1.65. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The company has a 50-day simple moving average of $78.65 and a 200 day simple moving average of $77.39. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $113.00.
Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 53.21% and a net margin of 27.18%. Lam Research's quarterly revenue was up 24.4% compared to the same quarter last year. During the same period last year, the company posted $7.79 earnings per share. Sell-side 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 will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 1.00%. Lam Research's payout ratio is currently 25.63%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on LRCX shares. Wells Fargo & Company lowered their price objective on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Oppenheimer reiterated an "outperform" rating and issued a $110.00 target price (up from $80.00) on shares of Lam Research in a report on Tuesday. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the stock a "hold" rating in a report on Thursday, April 24th. Argus upgraded shares of Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Jefferies Financial Group increased their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Seven 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 MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and an average price target of $92.78.
Check Out Our Latest Stock Analysis on LRCX
About Lam Research
(
Free Report)
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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