Institute for Wealth Management LLC. Takes $5.36 Million Position in Lam Research Corporation (NASDAQ:LRCX)

Institute for Wealth Management LLC. bought a new position in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 73,713 shares of the semiconductor company's stock, valued at approximately $5,359,000. Lam Research accounts for about 0.7% of Institute for Wealth Management LLC.'s holdings, making the stock its 25th largest holding.

Other hedge funds also recently bought and sold shares of the company. Investment Partners Asset Management Inc. raised its position in shares of Lam Research by 5.4% during the first quarter. Investment Partners Asset Management Inc. now owns 4,373 shares of the semiconductor company's stock valued at $318,000 after buying an additional 226 shares during the last quarter. Salem Investment Counselors Inc. grew its stake in Lam Research by 5.5% during the first quarter. Salem Investment Counselors Inc. now owns 4,716 shares of the semiconductor company's stock valued at $344,000 after acquiring an additional 246 shares in the last quarter. Legacy Wealth Asset Management LLC increased its holdings in Lam Research by 1.9% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company's stock valued at $963,000 after acquiring an additional 248 shares during the last quarter. Shepherd Financial Partners LLC lifted its stake in Lam Research by 4.6% in the 1st quarter. Shepherd Financial Partners LLC now owns 6,072 shares of the semiconductor company's stock worth $441,000 after purchasing an additional 266 shares in the last quarter. Finally, Walker Asset Management LLC lifted its stake in Lam Research by 7.8% in the 1st quarter. Walker Asset Management LLC now owns 3,862 shares of the semiconductor company's stock worth $281,000 after purchasing an additional 281 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LRCX. Jefferies Financial Group raised their price objective on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, March 28th. Barclays cut their price target on Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Mizuho lifted their price objective on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Oppenheimer increased their target price on Lam Research from $80.00 to $110.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 target price on shares of Lam Research in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $92.78.

Lam Research Trading Down 0.5%

Shares of NASDAQ LRCX opened at $92.24 on Thursday. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. 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 company has a market cap of $117.99 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.30 and a beta of 1.65. The business's 50 day moving average price is $78.65 and its 200-day moving average price is $77.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The business's revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the firm posted $7.79 earnings per share. On average, sell-side analysts expect 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 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 annualized dividend and a yield of 1.00%. Lam Research's dividend payout ratio (DPR) is 25.63%.

About Lam Research

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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