4,049 Shares in Lam Research Co. (NASDAQ:LRCX) Purchased by JGP Wealth Management LLC

JGP Wealth Management LLC acquired a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,049 shares of the semiconductor company's stock, valued at approximately $294,000.

Several other large investors also recently modified their holdings of LRCX. Vanguard Group Inc. lifted its stake in shares of Lam Research by 892.7% in 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 purchasing an additional 108,619,564 shares during the period. FMR LLC increased its holdings in Lam Research by 1,032.6% during 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. increased its holdings in Lam Research by 950.5% during 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 grew its holdings in shares of 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 valued at $2,265,610,000 after acquiring an additional 28,307,499 shares in the last quarter. Finally, Norges Bank bought a new position in Lam Research during the fourth quarter worth about $1,661,672,000. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Barclays reduced their price objective 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. Wells Fargo & Company lowered their price target on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Mizuho boosted their price objective on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, April 24th. Finally, Argus raised shares of Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $91.56.

Lam Research Stock Up 1.7%

Shares of NASDAQ LRCX traded up $1.45 during trading hours on Thursday, hitting $86.22. 2,676,515 shares of the stock were exchanged, compared to its average volume of 12,227,673. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00. The company has a market cap of $110.29 billion, a PE ratio of 26.14, a PEG ratio of 1.47 and a beta of 1.64. The firm has a fifty day moving average price of $74.00 and a 200-day moving average price of $76.14.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the firm earned $7.79 EPS. The business's revenue for the quarter was up 24.4% on a year-over-year basis. On average, sell-side analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

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 issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's payout ratio 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.