QRG Capital Management Inc. Has $32.67 Million Stock Position in Lam Research Corporation (NASDAQ:LRCX)

QRG Capital Management Inc. lifted its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 449,384 shares of the semiconductor company's stock after acquiring an additional 19,341 shares during the period. QRG Capital Management Inc.'s holdings in Lam Research were worth $32,670,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Perspectives Inc lifted its position in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 309 shares during the period. Fairway Wealth LLC lifted its position in Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 306 shares during the period. Midwest Capital Advisors LLC bought a new position in Lam Research in the fourth quarter worth $27,000. West Paces Advisors Inc. bought a new position in Lam Research in the fourth quarter worth $27,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Lam Research in the fourth quarter worth $27,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on LRCX shares. TD Securities cut their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. B. Riley reissued a "buy" rating and set a $115.00 price objective (up from $95.00) on shares of Lam Research in a report on Wednesday. UBS Group cut their price objective on Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the company a "hold" rating in a report on Thursday, April 24th. Finally, Barclays cut their price objective on Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Seven 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 data from MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and a consensus target price of $92.78.

Lam Research Stock Performance

LRCX traded down $0.42 during trading hours on Thursday, reaching $92.24. The company's stock had a trading volume of 9,373,055 shares, compared to its average volume of 12,291,497. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $113.00. The company's 50-day moving average is $78.65 and its 200-day moving average is $77.39. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The firm has a market cap of $117.99 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.30 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The firm had revenue of $4.72 billion for 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 company's revenue for the quarter was up 24.4% on a year-over-year basis. On average, equities analysts forecast that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is currently 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.