National Pension Service Acquires 148,141 Shares of Lam Research Corporation (NASDAQ:LRCX)

Key Points

• National Pension Service has increased its stake in Lam Research Corporation by 4.9%, owning approximately 3.18 million shares valued at $231.4 million.
• Lam Research reported earnings of $1.33 per share, surpassing expectations, with revenue for the quarter totaling $5.17 billion, up 33.6% year-over-year.
• The company declared a quarterly dividend of $0.23 per share, reflecting an annualized dividend yield of 0.9%.

National Pension Service grew its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 4.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,182,889 shares of the semiconductor company's stock after acquiring an additional 148,141 shares during the quarter. National Pension Service owned approximately 0.25% of Lam Research worth $231,396,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC bought a new position in Lam Research during the 1st quarter worth $26,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research in the fourth quarter valued at $27,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at $27,000. Park Square Financial Group LLC purchased a new stake in shares of Lam Research during the fourth quarter valued at $31,000. Finally, Putney Financial Group LLC purchased a new stake in shares of Lam Research during the fourth quarter valued at $36,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Price Performance

LRCX traded up $1.46 during trading on Wednesday, hitting $106.74. The company's stock had a trading volume of 12,115,388 shares, compared to its average volume of 11,507,004. The firm's 50 day moving average price is $96.79 and its two-hundred day moving average price is $83.51. The stock has a market capitalization of $135.09 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.36 and a beta of 1.65. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $107.49. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $5.17 billion during the quarter, compared to analysts' expectations of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The business's revenue for the quarter was up 33.6% on a year-over-year basis. During the same period last year, the firm earned $1.03 EPS. Sell-side analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.9%. Lam Research's dividend payout ratio (DPR) is 22.12%.

Analyst Upgrades and Downgrades

LRCX has been the subject of several analyst reports. TD Cowen upped their target price on Lam Research from $100.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, July 31st. KeyCorp upped their target price on Lam Research from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Wells Fargo & Company set a $98.00 price objective on Lam Research and gave the company an "equal weight" rating in a report on Thursday, July 31st. The Goldman Sachs Group began coverage on Lam Research in a report on Thursday, July 10th. They set a "buy" rating and a $115.00 price objective on the stock. Finally, Stifel Nicolaus increased their target price on Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $107.09.

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.