Cerity Partners LLC Buys 99,778 Shares of Lam Research Corporation (NASDAQ:LRCX)

Cerity Partners LLC lifted its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 30.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 430,948 shares of the semiconductor company's stock after purchasing an additional 99,778 shares during the period. Cerity Partners LLC's holdings in Lam Research were worth $31,330,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Citizens National Bank Trust Department grew its stake in Lam Research by 34.0% during the first quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock worth $44,000 after buying an additional 153 shares in the last quarter. Transcend Capital Advisors LLC increased its stake in Lam Research by 2.3% in the first quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock valued at $586,000 after acquiring an additional 182 shares during the last quarter. Capital Advisors Inc. OK raised its position in Lam Research by 0.6% during the first quarter. Capital Advisors Inc. OK now owns 29,927 shares of the semiconductor company's stock valued at $2,176,000 after purchasing an additional 183 shares in the last quarter. Atlantic Edge Private Wealth Management LLC lifted its stake in Lam Research by 33.3% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 800 shares of the semiconductor company's stock worth $58,000 after purchasing an additional 200 shares during the last quarter. Finally, YANKCOM Partnership increased its stake in shares of Lam Research by 10.0% in the 1st quarter. YANKCOM Partnership now owns 2,329 shares of the semiconductor company's stock valued at $169,000 after purchasing an additional 212 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $115.00 price objective (up from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. Jefferies Financial Group raised their price target on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. UBS Group dropped their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Mizuho boosted their target price on shares of Lam Research from $100.00 to $115.00 and gave the stock an "outperform" rating in a research note on Monday. 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 note 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 given a strong buy rating to the stock. According to MarketBeat, Lam Research has an average rating of "Moderate Buy" and an average target price of $98.19.

Lam Research Trading Down 2.1%

Lam Research stock traded down $2.11 during trading hours on Monday, reaching $99.62. 12,934,623 shares of the company's stock were exchanged, compared to its average volume of 12,046,690. The firm has a market capitalization of $127.43 billion, a PE ratio of 27.76, a PEG ratio of 1.44 and a beta of 1.68. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $108.23. The firm's 50 day simple moving average is $88.50 and its 200 day simple moving average is $79.96. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the business earned $7.79 earnings per share. The business's quarterly revenue was up 24.4% compared to the same quarter last year. Research analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's payout ratio is 25.63%.

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.