Lam Research Corporation (NASDAQ:LRCX) Shares Purchased by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its holdings in Lam Research Corporation by 42.5%, owning nearly 1 million shares valued at over $72 million as of the last quarter.
• Lam Research reported strong earnings, with $1.33 earnings per share, exceeding estimates and showing a year-over-year revenue increase of 33.6%.
• Several analysts have raised their price targets for Lam Research, with the consensus rating shifted to "Moderate Buy" and an average price target of $107.09.

HighTower Advisors LLC boosted its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 42.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 997,626 shares of the semiconductor company's stock after purchasing an additional 297,644 shares during the period. HighTower Advisors LLC owned 0.08% of Lam Research worth $72,527,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Lam Research in the first quarter worth approximately $26,000. West Paces Advisors Inc. purchased a new stake in shares of Lam Research in the fourth quarter worth approximately $27,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Lam Research in the fourth quarter worth approximately $27,000. Park Square Financial Group LLC purchased a new stake in shares of Lam Research in the fourth quarter worth approximately $31,000. Finally, Putney Financial Group LLC purchased a new stake in shares of Lam Research in the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Stock Up 1.4%

LRCX traded up $1.46 during trading on Wednesday, hitting $106.74. The stock had a trading volume of 12,115,388 shares, compared to its average volume of 11,507,004. The company has a market capitalization of $135.09 billion, a PE ratio of 25.66, a PEG ratio of 1.36 and a beta of 1.65. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $107.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21. The stock has a 50 day simple moving average of $96.79 and a two-hundred day simple moving average of $83.51.

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

Lam Research Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is 22.12%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LRCX. TD Cowen increased their price target on Lam Research from $100.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. B. Riley reaffirmed a "buy" rating and set a $115.00 price target (up from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. UBS Group increased their price target on Lam Research from $95.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the company a "hold" rating in a research report on Thursday, April 24th. Finally, Stifel Nicolaus increased their price target on Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $107.09.

Lam Research 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.