Highview Capital Management LLC DE Takes $1.22 Million Position in Lam Research Corporation (NASDAQ:LRCX)

Highview Capital Management LLC DE acquired a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 16,831 shares of the semiconductor company's stock, valued at approximately $1,224,000.

Other hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its position in Lam Research by 27.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock valued at $3,607,000 after acquiring an additional 10,565 shares during the period. Alpha Cubed Investments LLC raised its holdings in shares of Lam Research by 7.0% in the 1st quarter. Alpha Cubed Investments LLC now owns 13,568 shares of the semiconductor company's stock worth $986,000 after purchasing an additional 888 shares during the period. Gilliland Jeter Wealth Management LLC acquired a new position in shares of Lam Research in the 1st quarter valued at about $1,916,000. Centennial Bank AR purchased a new stake in shares of Lam Research during the 1st quarter worth about $903,000. Finally, U.S. Capital Wealth Advisors LLC increased its position in Lam Research by 5.1% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 5,902 shares of the semiconductor company's stock worth $429,000 after purchasing an additional 289 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Up 0.7%

Shares of NASDAQ:LRCX traded up $0.67 during midday trading on Friday, reaching $101.73. The company had a trading volume of 6,202,556 shares, compared to its average volume of 12,332,847. The stock has a market capitalization of $130.12 billion, a P/E ratio of 28.35, a PEG ratio of 1.43 and a beta of 1.68. The stock's fifty day moving average price is $88.50 and its 200-day moving average price is $79.87. 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 one year low of $56.32 and a one year high of $109.34.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results 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. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The company's revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $7.79 EPS. Equities research analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.90%. Lam Research's payout ratio is 25.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley lifted their price target on shares of Lam Research from $82.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Jefferies Financial Group raised their target price on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. 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. Oppenheimer reiterated an "outperform" rating and issued a $110.00 price target (up from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. Finally, Needham & Company LLC reduced their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and an average price target of $97.48.

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.