IFP Advisors Inc Raises Stock Position in Lam Research Corporation (NASDAQ:LRCX)

IFP Advisors Inc boosted its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 46.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 44,821 shares of the semiconductor company's stock after purchasing 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 SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LRCX. Vanguard Group Inc. lifted its stake in shares of Lam Research by 892.7% during the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after buying an additional 108,619,564 shares in the last quarter. FMR LLC lifted its stake in Lam Research by 1,032.6% in the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Lam Research by 950.5% in the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after purchasing an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC lifted its stake in Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock worth $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Finally, Norges Bank purchased a new stake in Lam Research in the 4th quarter worth approximately $1,661,672,000. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Needham & Company LLC lowered their target price on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. B. Riley reissued a "buy" rating and issued a $115.00 price target (up previously from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Wells Fargo & Company increased their price target on shares of Lam Research from $75.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $115.00 price target (up previously from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. Finally, TD Securities reduced their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and a consensus target price of $100.57.

Lam Research Stock Up 0.7%

Shares of LRCX traded up $0.64 on Thursday, hitting $97.74. 3,263,918 shares of the stock traded hands, compared to its average volume of 11,918,326. The company has a market capitalization of $125.02 billion, a PE ratio of 27.25, a P/E/G ratio of 1.38 and a beta of 1.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The business has a 50 day simple moving average of $91.98 and a 200 day simple moving average of $81.35. Lam Research Corporation has a one year low of $56.32 and a one year high of $102.59.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The company's quarterly revenue was up 24.4% on a year-over-year basis. During the same period last year, the firm earned $7.79 earnings per share. As a group, equities analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.94%. Lam Research's payout ratio is 25.63%.

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.