Hennion & Walsh Asset Management Inc. Purchases 8,294 Shares of Lam Research Co. (NASDAQ:LRCX)

Hennion & Walsh Asset Management Inc. boosted its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 17.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,217 shares of the semiconductor company's stock after acquiring an additional 8,294 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Lam Research were worth $4,160,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Centerpoint Advisors LLC lifted its stake in shares of Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock valued at $72,000 after purchasing an additional 900 shares during the period. E. Ohman J or Asset Management AB purchased a new stake in shares of Lam Research in the 4th quarter worth about $4,258,000. Huntington National Bank increased its stake in shares of Lam Research by 944.0% in the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock worth $21,291,000 after acquiring an additional 266,527 shares in the last quarter. ICICI Prudential Asset Management Co Ltd lifted its position in Lam Research by 1,401.1% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 70,475 shares of the semiconductor company's stock valued at $5,090,000 after acquiring an additional 65,780 shares during the period. Finally, Cerity Partners LLC boosted its stake in Lam Research by 781.9% during the fourth quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock worth $23,920,000 after acquiring an additional 293,619 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Performance

Shares of LRCX traded up $0.14 on Thursday, reaching $84.91. The company's stock had a trading volume of 10,906,395 shares, compared to its average volume of 12,259,058. The stock's 50 day simple moving average is $74.00 and its two-hundred day simple moving average is $76.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The stock has a market capitalization of $108.61 billion, a P/E ratio of 25.79, a PEG ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the company posted $7.79 EPS. The firm's revenue was up 24.4% on a year-over-year basis. Research analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is currently 25.63%.

Wall Street Analyst Weigh In

LRCX has been the subject of several recent research reports. Barclays lowered their target price on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company dropped their target price on Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Morgan Stanley raised their price target on Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Jefferies Financial Group lifted their price target on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Finally, TD Cowen cut their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $91.56.

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.