71,491 Shares in Lam Research Corporation (NASDAQ:LRCX) Purchased by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. has acquired 71,491 shares of Lam Research Corporation (NASDAQ:LRCX), valued at approximately $5.2 million, marking a significant investment during the first quarter.
• Several institutional investors have notably increased their stakes in Lam Research, leading to an impressive ownership percentage of 84.61% among institutional investors.
• Research firms have raised their price objectives for Lam Research, with the average target now at $107.09, while the stock has been given a consensus rating of "Moderate Buy."

Jupiter Asset Management Ltd. acquired a new stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 71,491 shares of the semiconductor company's stock, valued at approximately $5,197,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its position 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 during the period. Ameriprise Financial Inc. increased its stake in Lam Research by 950.5% in the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares in the last quarter. Invesco Ltd. increased its stake in Lam Research by 909.5% in the 4th quarter. Invesco Ltd. now owns 16,858,135 shares of the semiconductor company's stock valued at $1,217,663,000 after purchasing an additional 15,188,173 shares in the last quarter. Northern Trust Corp raised its holdings in Lam Research by 1,067.0% during the fourth quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock worth $1,146,235,000 after purchasing an additional 14,509,407 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Lam Research by 6,383.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock worth $980,500,000 after purchasing an additional 13,365,317 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on LRCX shares. Wells Fargo & Company set a $98.00 target price on Lam Research and gave the company an "equal weight" rating in a report on Thursday, July 31st. Barclays set a $83.00 target price on Lam Research and gave the company an "equal weight" rating in a report on Monday, July 28th. Stifel Nicolaus upped their target price on Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Wall Street Zen upgraded Lam Research from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $115.00 target price (up previously from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $107.09.

Lam Research Stock Down 1.8%

NASDAQ:LRCX traded down $1.73 during mid-day trading on Tuesday, hitting $96.68. The company had a trading volume of 10,675,545 shares, compared to its average volume of 11,016,984. The business has a fifty day simple moving average of $94.31 and a 200-day simple moving average of $82.57. 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 Corporation has a 1 year low of $56.32 and a 1 year high of $102.59. The firm has a market capitalization of $123.67 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.29 and a beta of 1.65.

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

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's payout ratio is presently 22.12%.

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.