Lam Research Corporation (NASDAQ:LRCX) Shares Purchased by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its stake in Lam Research Corporation by 9.4% during the first quarter, now owning 113,222 shares valued at $8,231,000.
• Lam Research reported quarterly earnings of $1.04 per share, surpassing estimates, and had a revenue of $4.72 billion, reflecting a 24.4% year-over-year growth.
• The company recently declared a quarterly dividend of $0.23 per share, yielding 0.95% annually, and maintaining a payout ratio of 25.63%.

HB Wealth Management LLC boosted its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 9.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,222 shares of the semiconductor company's stock after purchasing an additional 9,717 shares during the quarter. HB Wealth Management LLC's holdings in Lam Research were worth $8,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in LRCX. Brighton Jones LLC lifted its holdings in Lam Research by 1,032.4% in the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock worth $1,025,000 after buying an additional 12,936 shares during the period. WINTON GROUP Ltd increased its holdings in Lam Research by 3,326.8% in the 4th quarter. WINTON GROUP Ltd now owns 15,969 shares of the semiconductor company's stock worth $1,153,000 after buying an additional 15,503 shares in the last quarter. Loomis Sayles & Co. L P grew its position in Lam Research by 64.5% during the fourth quarter. Loomis Sayles & Co. L P now owns 979 shares of the semiconductor company's stock valued at $71,000 after buying an additional 384 shares during the period. Blair William & Co. IL lifted its position in shares of Lam Research by 824.9% during the 4th quarter. Blair William & Co. IL now owns 64,112 shares of the semiconductor company's stock valued at $4,631,000 after buying an additional 57,180 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Lam Research by 204.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 578,510 shares of the semiconductor company's stock valued at $41,786,000 after buying an additional 388,782 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LRCX shares. The Goldman Sachs Group began coverage on shares of Lam Research in a report on Thursday, July 10th. They issued a "buy" rating and a $115.00 target price on the stock. KeyCorp raised their price target on Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. B. Riley restated a "buy" rating and set a $115.00 price target (up previously from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Bank of America cut their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Needham & Company LLC cut their price target on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $102.05.

Lam Research Stock Performance

Shares of Lam Research stock traded up $0.92 during trading hours on Wednesday, hitting $99.86. 3,485,144 shares of the company were exchanged, compared to its average volume of 11,820,388. The business has a 50-day moving average of $93.08 and a 200-day moving average of $81.97. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $102.59. The stock has a market capitalization of $127.74 billion, a price-to-earnings ratio of 27.81, a P/E/G ratio of 1.39 and a beta of 1.68. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio is presently 25.63%.

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.