Lam Research Corporation (NASDAQ:LRCX) Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. raised its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,002 shares of the semiconductor company's stock after acquiring an additional 6,848 shares during the quarter. D.A. Davidson & CO.'s holdings in Lam Research were worth $7,488,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LRCX. Vanguard Group Inc. boosted its stake in shares of Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after buying an additional 108,619,564 shares during the period. FMR LLC boosted its stake in shares of Lam Research by 1,032.6% in the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after buying an additional 36,496,689 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Lam Research by 950.5% in the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after buying an additional 31,255,726 shares during the period. Geode Capital Management LLC boosted its stake in shares of Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after buying an additional 28,307,499 shares during the period. Finally, Norges Bank purchased a new position in shares of Lam Research in the 4th quarter valued at about $1,661,672,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LRCX. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. Jefferies Financial Group lifted their price objective on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Bank of America decreased their price objective on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Argus upgraded Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Barclays decreased their target price 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 given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $94.20.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $98.66 on Friday. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $113.00. The stock has a 50 day moving average of $85.70 and a two-hundred day moving average of $78.95. The stock has a market cap of $126.20 billion, a P/E ratio of 27.50, a P/E/G ratio of 1.39 and a beta of 1.68.

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 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 firm's revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.79 earnings per share. On average, research analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Wednesday, June 18th. Lam Research's payout ratio is currently 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.

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