Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Simon Quick Advisors LLC

Simon Quick Advisors LLC raised its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 38.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,212 shares of the semiconductor company's stock after acquiring an additional 3,100 shares during the quarter. Simon Quick Advisors LLC's holdings in Lam Research were worth $815,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LRCX. One Charles Private Wealth Services LLC lifted its holdings in Lam Research by 843.4% in 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 during the period. Brighton Jones LLC lifted its holdings in Lam Research by 1,032.4% in the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after acquiring an additional 12,936 shares during the period. Stephens Inc. AR lifted its holdings in Lam Research by 1,410.7% in the fourth quarter. Stephens Inc. AR now owns 6,194 shares of the semiconductor company's stock valued at $447,000 after acquiring an additional 5,784 shares during the period. Savant Capital LLC lifted its holdings in Lam Research by 893.5% in the fourth quarter. Savant Capital LLC now owns 22,790 shares of the semiconductor company's stock valued at $1,646,000 after acquiring an additional 20,496 shares during the period. Finally, Essex Financial Services Inc. acquired a new stake in Lam Research in the fourth quarter valued at $400,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Trading Down 2.3%

NASDAQ:LRCX traded down $2.14 during mid-day trading on Friday, reaching $89.52. The company's stock had a trading volume of 10,977,636 shares, compared to its average volume of 12,305,432. The company's fifty day simple moving average is $77.13 and its two-hundred day simple moving average is $77.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00. The stock has a market cap of $114.51 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.47 and a beta of 1.65.

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

Lam Research Announces Dividend

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 paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's payout ratio is 25.63%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. TD Cowen reduced their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Needham & Company LLC dropped their price target on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. TD Securities dropped their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. B. Riley restated a "buy" rating on shares of Lam Research in a research report on Thursday, April 24th. Finally, Barclays dropped their price target on Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Seven equities research 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 company. According to MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and a consensus price target of $90.87.

Lam Research Company 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.