J.W. Cole Advisors Inc. Boosts Stock Position in Lam Research Corporation (NASDAQ:LRCX)

J.W. Cole Advisors Inc. raised its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 281.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,899 shares of the semiconductor company's stock after purchasing an additional 8,782 shares during the quarter. J.W. Cole Advisors Inc.'s holdings in Lam Research were worth $865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Montag A & Associates Inc. lifted its holdings in shares of Lam Research by 129.4% in the 1st quarter. Montag A & Associates Inc. now owns 40,833 shares of the semiconductor company's stock worth $2,978,000 after acquiring an additional 23,035 shares during the last quarter. IFP Advisors Inc raised its holdings in Lam Research by 46.9% during the 1st quarter. IFP Advisors Inc now owns 44,821 shares of the semiconductor company's stock valued at $3,259,000 after buying an additional 14,313 shares during the last quarter. OneAscent Financial Services LLC bought a new stake in Lam Research during the 1st quarter valued at $500,000. Morse Asset Management Inc raised its holdings in Lam Research by 10.8% during the 1st quarter. Morse Asset Management Inc now owns 23,570 shares of the semiconductor company's stock valued at $1,714,000 after buying an additional 2,300 shares during the last quarter. Finally, Elyxium Wealth LLC raised its holdings in Lam Research by 99.8% during the 1st quarter. Elyxium Wealth LLC now owns 9,332 shares of the semiconductor company's stock valued at $678,000 after buying an additional 4,662 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on LRCX. KeyCorp upped their price target on shares of Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Wells Fargo & Company upped their price target on shares of Lam Research from $75.00 to $95.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. TD Cowen lowered their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Mizuho raised their target price on shares of Lam Research from $100.00 to $115.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $115.00 price target (up previously from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $100.57.

Lam Research Stock Performance

Shares of NASDAQ:LRCX traded down $0.82 during trading on Friday, hitting $96.96. The company's stock had a trading volume of 8,912,992 shares, compared to its average volume of 8,968,377. The company has a 50-day moving average of $92.49 and a 200-day moving average of $81.62. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $102.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The firm has a market cap of $124.02 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 1.38 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping 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 firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter in the prior year, the business earned $7.79 EPS. The business's quarterly revenue was up 24.4% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.95%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend 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.