IFP Advisors Inc raised its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 46.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,821 shares of the semiconductor company's stock after buying an additional 14,313 shares during the period. IFP Advisors Inc's holdings in Lam Research were worth $3,259,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of LRCX. Smallwood Wealth Investment Management LLC bought a new stake in shares of Lam Research during the first quarter valued at approximately $26,000. West Paces Advisors Inc. bought a new stake in Lam Research in the fourth quarter valued at about $27,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Lam Research during the fourth quarter worth approximately $27,000. Park Square Financial Group LLC bought a new stake in shares of Lam Research during the fourth quarter worth $31,000. Finally, Cedar Wealth Management LLC acquired a new stake in Lam Research in the fourth quarter valued at $34,000. 84.61% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have commented on LRCX shares. Needham & Company LLC reduced their price target on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. UBS Group upped their price target on shares of Lam Research from $95.00 to $120.00 and gave the company a "buy" rating in a research report on Monday. Oppenheimer restated an "outperform" rating and set a $110.00 price target (up previously from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. B. Riley reiterated a "buy" rating and set a $115.00 price objective (up previously from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. Finally, Bank of America cut their price objective on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and a consensus price target of $100.57.
Read Our Latest Stock Analysis on LRCX
Lam Research Stock Performance
Shares of NASDAQ LRCX traded down $4.05 during mid-day trading on Tuesday, hitting $97.69. The company had a trading volume of 14,144,110 shares, compared to its average volume of 12,289,424. The firm's 50 day simple moving average is $91.10 and its two-hundred day simple moving average is $80.94. 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 stock has a market cap of $124.96 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 1.42 and a beta of 1.68. 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 issued its quarterly earnings results 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. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the company posted $7.79 earnings per share. Lam Research's revenue for the quarter was up 24.4% compared to the same quarter last year. As a group, equities research analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current year.
Lam Research Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were paid 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 0.94%. Lam Research's dividend payout ratio is currently 25.63%.
Lam Research Profile
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Free Report)
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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