Gradient Investments LLC Purchases 16,468 Shares of Lam Research Co. (NASDAQ:LRCX)

Gradient Investments LLC grew its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 7.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 234,025 shares of the semiconductor company's stock after acquiring an additional 16,468 shares during the period. Gradient Investments LLC's holdings in Lam Research were worth $17,014,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Financial Perspectives Inc lifted its holdings in Lam Research by 908.8% during the 4th 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 last quarter. Fairway Wealth LLC grew its holdings in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in Lam Research during the 4th quarter worth $27,000. West Paces Advisors Inc. bought a new position in Lam Research during the 4th quarter worth $27,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Lam Research in the fourth quarter valued at about $27,000. Institutional investors own 84.61% of the company's stock.

Lam Research Trading Up 1.3%

Shares of NASDAQ:LRCX traded up $1.11 during midday trading on Wednesday, hitting $84.77. 7,987,586 shares of the stock were exchanged, compared to its average volume of 12,242,151. 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 Co. has a 12 month low of $56.32 and a 12 month high of $113.00. The business's 50-day moving average price is $73.75 and its 200 day moving average price is $76.08. The stock has a market capitalization of $108.43 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 1.47 and a beta of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Lam Research's revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.79 earnings per share. Analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.09%. Lam Research's payout ratio is 25.63%.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 price objective on shares of Lam Research in a report on Thursday, April 24th. TD Cowen cut their price target 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. Needham & Company LLC lowered their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus cut their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Evercore ISI raised their price target on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $91.56.

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.