Hoxton Planning & Management LLC Acquires Shares of 4,612 Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Hoxton Planning & Management LLC has made a new investment of $335,000 in Lam Research Corporation, acquiring 4,612 shares during the first quarter.
• Several institutional investors, including Pinnacle Financial Partners and Cerity Partners, have also significantly increased their positions in Lam Research, which is now owned 84.61% by institutional investors.
• Wall Street analysts are optimistic about Lam Research's prospects, with the company receiving multiple buy ratings and target price increases, the highest being $125.00 from TD Cowen.

Hoxton Planning & Management LLC bought a new stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,612 shares of the semiconductor company's stock, valued at approximately $335,000.

Several other large investors have also modified their holdings of the stock. Foster & Motley Inc. raised its position in Lam Research by 8.2% in the 1st quarter. Foster & Motley Inc. now owns 14,058 shares of the semiconductor company's stock valued at $1,022,000 after purchasing an additional 1,070 shares during the last quarter. Natixis Advisors LLC raised its position in Lam Research by 35.3% during the 1st quarter. Natixis Advisors LLC now owns 720,180 shares of the semiconductor company's stock worth $52,357,000 after buying an additional 187,842 shares during the last quarter. NorthRock Partners LLC raised its position in Lam Research by 20.6% during the 1st quarter. NorthRock Partners LLC now owns 16,221 shares of the semiconductor company's stock worth $1,182,000 after buying an additional 2,775 shares during the last quarter. Tower Bridge Advisors raised its position in Lam Research by 262.2% during the 1st quarter. Tower Bridge Advisors now owns 141,450 shares of the semiconductor company's stock worth $10,283,000 after buying an additional 102,395 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft raised its position in Lam Research by 19.3% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 5,096 shares of the semiconductor company's stock worth $358,000 after buying an additional 826 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Stock Performance

Shares of Lam Research stock traded up $1.53 during trading on Friday, hitting $96.37. 16,599,413 shares of the stock were exchanged, compared to its average volume of 9,955,076. The stock's fifty day moving average is $93.96 and its 200 day moving average is $82.38. The stock has a market cap of $123.27 billion, a PE ratio of 23.17, a P/E/G ratio of 1.33 and a beta of 1.68. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 2.21. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $102.59.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. Lam Research's revenue was up 33.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. As a group, sell-side analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio is currently 22.12%.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of analyst reports. Barclays set a $83.00 price objective on shares of Lam Research and gave the stock an "equal weight" rating in a research report on Monday, July 28th. The Goldman Sachs Group began coverage on shares of Lam Research in a research note on Thursday, July 10th. They set a "buy" rating and a $115.00 price target on the stock. Evercore ISI upped their price target on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Wall Street Zen raised shares of Lam Research from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 price target on shares of Lam Research and gave the stock a "hold" rating in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, 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.