QRG Capital Management Inc. Purchases 19,341 Shares of Lam Research Co. (NASDAQ:LRCX)

QRG Capital Management Inc. grew its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 4.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 449,384 shares of the semiconductor company's stock after purchasing an additional 19,341 shares during the period. QRG Capital Management Inc.'s holdings in Lam Research were worth $32,670,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Financial Perspectives Inc lifted its position in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after buying an additional 309 shares in the last quarter. Fairway Wealth LLC increased its stake in shares of 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 acquiring an additional 306 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Lam Research during the fourth quarter worth $27,000. West Paces Advisors Inc. acquired a new stake in Lam Research during the fourth quarter valued at $27,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in Lam Research in the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Stock Performance

Shares of NASDAQ:LRCX traded up $3.89 during trading on Monday, hitting $93.41. 11,639,292 shares of the stock were exchanged, compared to its average volume of 12,302,756. The company 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. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00. The company's fifty day simple moving average is $77.13 and its 200-day simple moving average is $77.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

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

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio is 25.63%.

Wall Street Analyst Weigh In

A number of research firms recently commented on LRCX. Argus upgraded Lam Research to a "strong-buy" rating in a report on Friday, April 25th. TD Securities dropped their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus reduced their price objective on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. TD Cowen lowered their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $90.00 target price on shares of Lam Research in a report on Thursday, April 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $90.87.

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.