Harel Insurance Investments & Financial Services Ltd. Invests $1.06 Million in Lam Research Corporation (NASDAQ:LRCX)

Harel Insurance Investments & Financial Services Ltd. bought a new stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 14,610 shares of the semiconductor company's stock, valued at approximately $1,064,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. increased its holdings in shares of Lam Research by 1.8% during the first quarter. GF Fund Management CO. LTD. now owns 248,293 shares of the semiconductor company's stock valued at $18,051,000 after acquiring an additional 4,437 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in Lam Research by 29.7% in the 1st quarter. OneDigital Investment Advisors LLC now owns 13,777 shares of the semiconductor company's stock valued at $1,002,000 after purchasing an additional 3,153 shares during the period. Avantax Planning Partners Inc. grew its position in Lam Research by 5.9% in the 1st quarter. Avantax Planning Partners Inc. now owns 10,412 shares of the semiconductor company's stock valued at $757,000 after purchasing an additional 581 shares during the period. Calamos Advisors LLC increased its stake in Lam Research by 0.7% during the 1st quarter. Calamos Advisors LLC now owns 335,424 shares of the semiconductor company's stock valued at $24,385,000 after purchasing an additional 2,457 shares in the last quarter. Finally, Sitrin Capital Management LLC raised its holdings in Lam Research by 0.7% during the first quarter. Sitrin Capital Management LLC now owns 81,743 shares of the semiconductor company's stock worth $5,961,000 after buying an additional 605 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Performance

NASDAQ:LRCX opened at $98.66 on Friday. The company has a market capitalization of $126.20 billion, a P/E ratio of 27.50, a P/E/G ratio of 1.39 and a beta of 1.68. The business has a fifty day simple moving average of $85.70 and a two-hundred day simple moving average of $78.95. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. 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 posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the company earned $7.79 EPS. The firm's quarterly revenue was up 24.4% compared to the same quarter last year. On average, analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.93%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Analyst Ratings Changes

Several equities research analysts have recently commented on LRCX shares. Bank of America decreased their target price 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. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. TD Cowen lowered their price objective 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. Wells Fargo & Company cut their target price on Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Finally, TD Securities decreased their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Lam Research has an average rating of "Moderate Buy" and a consensus price target of $94.20.

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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