Lam Research Corporation (NASDAQ:LRCX) Shares Bought by Applied Finance Capital Management LLC

Key Points

• Applied Finance Capital Management LLC has increased its stake in Lam Research Corporation by 15.1%, owning 20,733 shares valued at $1,507,000 as of the latest SEC filing.
• Lam Research reported earnings of $1.04 per share for the recent quarter, exceeding analyst expectations, with revenues rising to $4.72 billion, up 24.4% year-over-year.
• The company recently announced a quarterly dividend of $0.23, translating to an annualized dividend yield of 0.95% and a payout ratio of 25.63%.

Applied Finance Capital Management LLC grew its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 15.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,733 shares of the semiconductor company's stock after acquiring an additional 2,713 shares during the period. Applied Finance Capital Management LLC's holdings in Lam Research were worth $1,507,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC purchased a new stake in Lam Research during the first quarter worth $26,000. West Paces Advisors Inc. purchased a new stake in Lam Research during the fourth quarter worth $27,000. Mpwm Advisory Solutions LLC purchased a new stake in Lam Research during the fourth quarter worth $27,000. Park Square Financial Group LLC purchased a new stake in Lam Research during the fourth quarter worth $31,000. Finally, Putney Financial Group LLC purchased a new stake in Lam Research during the fourth quarter worth $36,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Up 0.4%

Lam Research stock traded up $0.40 during trading on Wednesday, reaching $99.34. The stock had a trading volume of 4,435,831 shares, compared to its average volume of 11,827,094. 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 Corporation has a 52-week low of $56.32 and a 52-week high of $102.59. The business has a 50 day moving average price of $93.08 and a 200 day moving average price of $81.97. The stock has a market cap of $127.07 billion, a PE ratio of 27.67, a P/E/G ratio of 1.39 and a beta of 1.68.

Lam Research Dividend Announcement

The business also recently disclosed 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 0.93%. Lam Research's payout ratio is currently 25.63%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LRCX shares. KeyCorp upped their price objective on shares of Lam Research from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Barclays set a $83.00 target price on shares of Lam Research and gave the company an "equal weight" rating in a research report on Monday. Cantor Fitzgerald restated an "overweight" rating and set a $115.00 price objective (up from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. TD Cowen cut their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Argus upgraded shares of Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $102.05.

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.