Precedent Wealth Partners LLC Boosts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Precedent Wealth Partners LLC lifted its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 12.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 28,757 shares of the semiconductor company's stock after purchasing an additional 3,094 shares during the period. Precedent Wealth Partners LLC's holdings in Lam Research were worth $2,091,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in LRCX. One Charles Private Wealth Services LLC raised its holdings in shares of Lam Research by 843.4% during the fourth quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock valued at $289,000 after acquiring an additional 3,576 shares in the last quarter. Brighton Jones LLC increased its position in Lam Research by 1,032.4% during 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 period. Allspring Global Investments Holdings LLC raised its holdings in Lam Research by 1,159.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 243,502 shares of the semiconductor company's stock worth $17,639,000 after purchasing an additional 224,164 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Lam Research by 415.9% in the 4th quarter. Blue Trust Inc. now owns 14,951 shares of the semiconductor company's stock worth $1,080,000 after purchasing an additional 12,053 shares during the period. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Lam Research during the 4th quarter valued at about $1,313,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LRCX shares. Jefferies Financial Group increased their price target on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. TD Cowen lowered their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. TD Securities dropped their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company decreased their price objective on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 target price on shares of Lam Research in a report on Thursday, April 24th. Seven 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $90.87.

Lam Research Stock Performance

Lam Research stock traded up $3.89 during trading on Monday, reaching $93.41. The company had a trading volume of 11,639,292 shares, compared to its average volume of 12,302,756. The firm has a market capitalization of $119.48 billion, a price-to-earnings ratio of 28.37, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The firm's 50-day simple moving average is $77.13 and its 200 day simple moving average is $77.05. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the firm posted $7.79 EPS. The firm's quarterly revenue was up 24.4% compared to the same quarter last year. Sell-side analysts forecast that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.98%. Lam Research's dividend payout ratio is presently 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.