Lam Research Co. (NASDAQ:LRCX) is Eldred Rock Partners LLC's 8th Largest Position

Eldred Rock Partners LLC lifted its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 10.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 170,569 shares of the semiconductor company's stock after buying an additional 15,976 shares during the quarter. Lam Research comprises 3.8% of Eldred Rock Partners LLC's holdings, making the stock its 8th biggest position. Eldred Rock Partners LLC's holdings in Lam Research were worth $12,395,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. NBC Securities Inc. raised its stake in Lam Research by 581,300.0% during the first quarter. NBC Securities Inc. now owns 5,814 shares of the semiconductor company's stock worth $422,000 after acquiring an additional 5,813 shares in the last quarter. Douglas Lane & Associates LLC acquired a new position in Lam Research during the first quarter worth about $213,000. Green Alpha Advisors LLC raised its stake in Lam Research by 81.4% during the first quarter. Green Alpha Advisors LLC now owns 44,730 shares of the semiconductor company's stock worth $3,252,000 after acquiring an additional 20,071 shares in the last quarter. Czech National Bank raised its stake in Lam Research by 5.7% during the first quarter. Czech National Bank now owns 294,837 shares of the semiconductor company's stock worth $21,435,000 after acquiring an additional 15,858 shares in the last quarter. Finally, JGP Wealth Management LLC acquired a new position in Lam Research during the first quarter worth about $294,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Trading Up 1.3%

Shares of Lam Research stock traded up $1.09 on Thursday, reaching $85.86. 4,436,949 shares of the company's stock were exchanged, compared to its average volume of 12,234,381. The company has a market capitalization of $109.83 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The firm's 50-day moving average is $74.00 and its two-hundred day moving average is $76.14. 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 posted 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 analysts' expectations of $4.64 billion. During the same period in the prior year, the business earned $7.79 EPS. The company's revenue for the quarter was up 24.4% compared to the same quarter last year. Sell-side analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio is currently 25.63%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Stifel Nicolaus lowered their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Mizuho boosted their target price on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Bank of America lowered their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Jefferies Financial Group upped their price objective on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and an average price target of $91.56.

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.