Independent Advisor Alliance Grows Stock Holdings in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Independent Advisor Alliance increased its stake in Lam Research by 14.8% during the first quarter, owning 41,252 shares valued at approximately $2.99 million following a purchase of additional shares.
• Lam Research recently reported a 33.6% increase in revenue year-over-year, with earnings per share of $1.33, surpassing estimates by $0.12.
• Analysts remain optimistic about Lam Research's stock, with a consensus rating of "Moderate Buy" and a target price averaging $107.09.

Independent Advisor Alliance raised its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 14.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,252 shares of the semiconductor company's stock after purchasing an additional 5,322 shares during the period. Independent Advisor Alliance's holdings in Lam Research were worth $2,999,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First American Trust FSB grew its holdings in shares of Lam Research by 42.0% during the first quarter. First American Trust FSB now owns 43,647 shares of the semiconductor company's stock valued at $3,173,000 after buying an additional 12,905 shares during the last quarter. SouthState Corp grew its stake in Lam Research by 457.6% during the 1st quarter. SouthState Corp now owns 1,617 shares of the semiconductor company's stock valued at $118,000 after purchasing an additional 1,327 shares during the last quarter. CCM Investment Group LLC purchased a new stake in Lam Research during the 1st quarter valued at about $4,991,000. Nuveen LLC acquired a new position in shares of Lam Research in the first quarter valued at about $604,344,000. Finally, Aigen Investment Management LP raised its stake in shares of Lam Research by 1.7% in the first quarter. Aigen Investment Management LP now owns 45,492 shares of the semiconductor company's stock worth $3,307,000 after purchasing an additional 766 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Price Performance

LRCX traded up $1.46 during midday trading on Wednesday, hitting $106.74. 12,115,388 shares of the company traded hands, compared to its average volume of 11,507,004. The business has a 50 day simple moving average of $96.35 and a two-hundred day simple moving average of $83.35. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $107.49. The company has a market capitalization of $135.09 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 1.36 and a beta of 1.65. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. The firm had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The company's revenue for the quarter was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS. On average, equities analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, June 18th. Lam Research's payout ratio is presently 22.12%.

Analysts Set New Price Targets

LRCX has been the topic of a number of recent research reports. Wall Street Zen upgraded Lam Research from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Morgan Stanley lifted their price objective on shares of Lam Research from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Citigroup increased their price objective on shares of Lam Research from $108.00 to $113.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Needham & Company LLC boosted their target price on shares of Lam Research from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the stock a "hold" rating in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $107.09.

Lam Research Company 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.