Raiffeisen Bank International AG Boosts Stock Holdings in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Raiffeisen Bank International AG increased its stake in Lam Research Corporation by 22.4% during the first quarter, acquiring an additional 27,728 shares and bringing its total holdings to 151,502 shares valued at approximately $11 million.
• Lam Research's stock had a positive earnings report, with Q2 earnings per share of $1.33 surpassing estimates and revenue of $5.17 billion, reflecting a year-over-year increase of 33.6%.
• Analysts have a consensus rating of "Moderate Buy" on Lam Research, with an average price target of $107.09, as several firms adjust their ratings and target prices for the stock.

Raiffeisen Bank International AG raised its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 22.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,502 shares of the semiconductor company's stock after buying an additional 27,728 shares during the period. Raiffeisen Bank International AG's holdings in Lam Research were worth $11,001,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LRCX. Smithfield Trust Co raised its holdings in shares of Lam Research by 9.1% in the 1st quarter. Smithfield Trust Co now owns 15,664 shares of the semiconductor company's stock valued at $1,142,000 after acquiring an additional 1,304 shares in the last quarter. Argent Trust Co increased its stake in shares of Lam Research by 1.3% during the first quarter. Argent Trust Co now owns 54,090 shares of the semiconductor company's stock valued at $3,932,000 after buying an additional 704 shares during the period. L & S Advisors Inc lifted its stake in Lam Research by 4.2% in the first quarter. L & S Advisors Inc now owns 31,704 shares of the semiconductor company's stock worth $2,305,000 after acquiring an additional 1,271 shares during the period. Manchester Capital Management LLC boosted its holdings in Lam Research by 5.7% in the first quarter. Manchester Capital Management LLC now owns 5,946 shares of the semiconductor company's stock valued at $432,000 after acquiring an additional 323 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its holdings in Lam Research by 16.6% in the 1st quarter. Pathway Financial Advisers LLC now owns 11,297 shares of the semiconductor company's stock worth $821,000 after purchasing an additional 1,606 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Performance

Shares of Lam Research stock traded up $3.21 on Thursday, hitting $99.15. The stock had a trading volume of 9,294,393 shares, compared to its average volume of 11,981,828. The stock has a market cap of $126.82 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 1.27 and a beta of 1.65. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $102.59. The company's 50 day moving average price is $94.80 and its 200 day moving average price is $82.76. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the business earned $1.03 EPS. The company's quarterly revenue was up 33.6% compared to the same quarter last year. On average, research analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were paid a $0.23 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.9%. Lam Research's payout ratio is 22.12%.

Analyst Ratings Changes

LRCX has been the subject of a number of recent research reports. Barclays set a $83.00 price target on shares of Lam Research and gave the stock an "equal weight" rating in a research report on Monday, July 28th. Wall Street Zen upgraded shares of Lam Research from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Bank of America lowered their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. KeyCorp upped their target price on Lam Research from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, The Goldman Sachs Group assumed coverage on Lam Research in a report on Thursday, July 10th. They set a "buy" rating and a $115.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and a consensus price target of $107.09.

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.