Keybank National Association OH Buys 3,004 Shares of Lam Research Corporation (NASDAQ:LRCX)

Keybank National Association OH boosted its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 8.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 39,818 shares of the semiconductor company's stock after purchasing an additional 3,004 shares during the period. Keybank National Association OH's holdings in Lam Research were worth $2,895,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of LRCX. One Charles Private Wealth Services LLC lifted its stake in Lam Research by 843.4% in the 4th quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock valued at $289,000 after purchasing an additional 3,576 shares during the last quarter. Brighton Jones LLC lifted its stake in Lam Research by 1,032.4% in the 4th 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 during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Lam Research by 1,261.0% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 3,525 shares of the semiconductor company's stock valued at $255,000 after purchasing an additional 3,266 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Lam Research by 1,580.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 63,078 shares of the semiconductor company's stock worth $4,556,000 after acquiring an additional 59,325 shares during the last quarter. Finally, Exencial Wealth Advisors LLC lifted its position in Lam Research by 748.0% during the fourth quarter. Exencial Wealth Advisors LLC now owns 3,884 shares of the semiconductor company's stock worth $281,000 after acquiring an additional 3,426 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group cut their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, April 14th. B. Riley restated a "buy" rating and set a $115.00 price objective (up from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Oppenheimer restated an "outperform" rating and set a $110.00 price objective (up from $80.00) on shares of Lam Research in a research report on Tuesday, June 17th. Evercore ISI raised their price objective on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, TD Cowen cut their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company 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 assigned a strong buy rating to the company. According to MarketBeat, Lam Research has an average rating of "Moderate Buy" and an average target price of $94.20.

Lam Research Stock Down 0.2%

Shares of LRCX opened at $98.66 on Friday. Lam Research Corporation has a one year low of $56.32 and a one year high of $113.00. The company has a market cap of $126.20 billion, a P/E ratio of 27.50, a P/E/G ratio of 1.39 and a beta of 1.68. 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 50 day simple moving average of $85.70 and a two-hundred day simple moving average of $78.95.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced 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 27.18% and a return on equity of 53.21%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the business earned $7.79 earnings per share. The company's revenue was up 24.4% on a year-over-year basis. Research analysts forecast that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. Lam Research's payout ratio is presently 25.63%.

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.

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