Los Angeles Capital Management LLC Acquires 151,261 Shares of Lam Research Corporation (NASDAQ:LRCX)

Los Angeles Capital Management LLC boosted its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 25.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 742,966 shares of the semiconductor company's stock after purchasing an additional 151,261 shares during the period. Los Angeles Capital Management LLC owned approximately 0.06% of Lam Research worth $54,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smallwood Wealth Investment Management LLC purchased a new stake in Lam Research in the 1st quarter valued at about $26,000. West Paces Advisors Inc. acquired a new position in Lam Research during the 4th quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC acquired a new position in Lam Research during the 4th quarter valued at approximately $27,000. Park Square Financial Group LLC acquired a new stake in shares of Lam Research in the fourth quarter worth $31,000. Finally, Cedar Wealth Management LLC acquired a new stake in shares of Lam Research in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

LRCX has been the topic of several research reports. Jefferies Financial Group raised their price target on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. KeyCorp lifted their price target on shares of Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. The Goldman Sachs Group began coverage on shares of Lam Research in a report on Thursday, July 10th. They set a "buy" rating and a $115.00 target price on the stock. Mizuho raised their price target on shares of Lam Research from $100.00 to $115.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Finally, TD Cowen reduced their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and an average target price of $99.14.

Lam Research Stock Performance

LRCX stock traded down $0.13 during midday trading on Friday, hitting $100.66. 8,114,872 shares of the company traded hands, compared to its average volume of 12,303,086. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $102.19. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $128.76 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.68. The business has a 50 day simple moving average of $91.10 and a 200-day simple moving average of $80.88.

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

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

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.