Investment Counsel Co. of Nevada Takes Position in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Investment Counsel Co. of Nevada has acquired a new stake in Lam Research Corporation, purchasing 6,742 shares valued at approximately $490,000, making it the firm's 15th largest holding.
• Institutional ownership in Lam Research is substantial, with over 84.61% of the stock held by institutional investors and hedge funds.
• Analysts have generally rated Lam Research positively, with an average target price of $107.09 and a consensus rating of "Moderate Buy" based on 20 buy ratings and 7 hold ratings.

Investment Counsel Co. of Nevada purchased a new stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,742 shares of the semiconductor company's stock, valued at approximately $490,000. Lam Research accounts for approximately 1.1% of Investment Counsel Co. of Nevada's investment portfolio, making the stock its 15th largest holding.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Lam Research by 1,032.4% in the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after buying an additional 12,936 shares during the period. World Investment Advisors lifted its holdings in shares of Lam Research by 2,039.5% in the fourth quarter. World Investment Advisors now owns 5,798 shares of the semiconductor company's stock valued at $419,000 after buying an additional 5,527 shares during the period. Arete Wealth Advisors LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at $230,000. Envestnet Asset Management Inc. acquired a new stake in shares of Lam Research during the fourth quarter worth $207,419,000. Finally, Wedbush Securities Inc. raised its position in shares of Lam Research by 1,421.8% during the fourth quarter. Wedbush Securities Inc. now owns 16,512 shares of the semiconductor company's stock worth $1,193,000 after purchasing an additional 15,427 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LRCX shares. Barclays set a $83.00 target price on Lam Research and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Stifel Nicolaus upped their price target on Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. UBS Group upped their price target on Lam Research from $95.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Oppenheimer upped their price target on Lam Research from $110.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Bank of America dropped their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $107.09.

Lam Research Stock Performance

LRCX opened at $98.41 on Tuesday. The company has a market cap of $125.88 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 1.29 and a beta of 1.65. The stock has a 50-day moving average of $94.31 and a 200-day moving average of $82.57. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $102.59. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21.

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 (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The firm's revenue was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 EPS. As a group, equities research analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

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.

Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Corporation (NASDAQ:LRCX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.