Keystone Investors PTE Ltd. Makes New Investment in Lam Research Corporation (NASDAQ:LRCX)

Keystone Investors PTE Ltd. acquired a new stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 24,718 shares of the semiconductor company's stock, valued at approximately $1,797,000. Lam Research comprises 0.3% of Keystone Investors PTE Ltd.'s investment portfolio, making the stock its 20th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LRCX. Pinnacle Financial Partners Inc acquired a new stake in Lam Research during the 1st quarter worth about $201,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Lam Research during the fourth quarter worth about $6,296,000. China Universal Asset Management Co. Ltd. boosted its position in Lam Research by 27.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock valued at $3,607,000 after buying an additional 10,565 shares during the last quarter. First Citizens Bank & Trust Co. increased its holdings in Lam Research by 47.8% in the 1st quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company's stock worth $8,862,000 after buying an additional 39,414 shares during the period. Finally, Global X Japan Co. Ltd. acquired a new position in Lam Research in the 1st quarter worth approximately $3,152,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on LRCX shares. Wells Fargo & Company set a $98.00 price objective on Lam Research and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Oppenheimer raised their target price on Lam Research from $110.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Bank of America cut their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Stifel Nicolaus increased their price target on shares of Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Needham & Company LLC increased their price target on Lam Research from $110.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Lam Research currently has a consensus rating of "Moderate Buy" and an average price target of $107.09.

Lam Research Stock Up 3.3%

LRCX stock opened at $99.15 on Friday. The company's 50 day moving average price is $95.10 and its 200 day moving average price is $82.89. The firm has a market capitalization of $126.82 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 1.24 and a beta of 1.65. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $102.59. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21.

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

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's payout ratio is 22.12%.

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.

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