Johnson Investment Counsel Inc. Makes New Investment in Lam Research Corporation (NASDAQ:LRCX)

Johnson Investment Counsel Inc. bought a new position in Lam Research Corporation (NASDAQ:LRCX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 19,454 shares of the semiconductor company's stock, valued at approximately $1,414,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. One Charles Private Wealth Services LLC boosted its stake in shares of Lam Research by 843.4% during the 4th quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock worth $289,000 after acquiring an additional 3,576 shares during the last quarter. Brighton Jones LLC lifted its position in Lam Research by 1,032.4% during the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after purchasing an additional 12,936 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of Lam Research by 695.2% during the 4th quarter. J.W. Cole Advisors Inc. now owns 3,117 shares of the semiconductor company's stock valued at $225,000 after buying an additional 2,725 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Lam Research by 240.4% during the 4th quarter. Global Retirement Partners LLC now owns 6,457 shares of the semiconductor company's stock valued at $466,000 after buying an additional 4,560 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of Lam Research by 763.5% during the 4th quarter. Private Advisor Group LLC now owns 55,037 shares of the semiconductor company's stock valued at $3,975,000 after buying an additional 48,663 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Down 1.9%

LRCX stock opened at $90.49 on Friday. The firm's fifty day simple moving average is $79.62 and its 200-day simple moving average is $77.57. The company has a market capitalization of $115.75 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 1.30 and a beta of 1.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results 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 27.18% and a return on equity of 53.21%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the company earned $7.79 earnings per share. The firm's revenue was up 24.4% on a year-over-year basis. As a group, equities research analysts forecast 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 is Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 1.02%. Lam Research's dividend payout ratio is presently 25.63%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, April 24th. Wells Fargo & Company lowered their target price on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group lifted their target price on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Stifel Nicolaus lowered their price objective on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Finally, Needham & Company LLC lowered their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Seven equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $92.78.

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.

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.