HM Payson & Co. Raises Position in Lam Research Corporation (NASDAQ:LRCX)

HM Payson & Co. grew its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,160,402 shares of the semiconductor company's stock after purchasing an additional 14,125 shares during the quarter. Lam Research makes up about 1.5% of HM Payson & Co.'s investment portfolio, making the stock its 22nd biggest position. HM Payson & Co. owned 0.09% of Lam Research worth $84,362,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in LRCX. One Charles Private Wealth Services LLC lifted its stake in shares of Lam Research by 843.4% during the 4th quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock worth $289,000 after purchasing an additional 3,576 shares during the period. Brighton Jones LLC lifted its stake in shares of Lam Research by 1,032.4% during the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock worth $1,025,000 after purchasing an additional 12,936 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Lam Research by 1,261.0% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 3,525 shares of the semiconductor company's stock worth $255,000 after buying an additional 3,266 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Lam Research by 1,580.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 63,078 shares of the semiconductor company's stock worth $4,556,000 after buying an additional 59,325 shares during the last quarter. Finally, Exencial Wealth Advisors LLC increased its holdings in shares of Lam Research by 748.0% during the 4th quarter. Exencial Wealth Advisors LLC now owns 3,884 shares of the semiconductor company's stock worth $281,000 after buying an additional 3,426 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Stock Performance

NASDAQ:LRCX opened at $98.66 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The firm has a 50-day moving average of $85.70 and a two-hundred day moving average of $78.95. The stock has a market cap of $126.20 billion, a P/E ratio of 27.50, a PEG ratio of 1.39 and a beta of 1.68. 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 data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm's revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the prior year, the company posted $7.79 EPS. On average, research analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.93%. Lam Research's payout ratio is currently 25.63%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LRCX shares. B. Riley restated a "buy" rating and set a $115.00 price objective (up from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Needham & Company LLC dropped their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Argus upgraded Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Bank of America dropped their price objective 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, Jefferies Financial Group upped their price objective on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and a consensus target price of $94.20.

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.

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