Lam Research Corporation (NASDAQ:LRCX) Shares Bought by Frank Rimerman Advisors LLC

Key Points

• Frank Rimerman Advisors LLC increased its stake in Lam Research Corporation by 124.1%, acquiring an additional 18,681 shares, bringing their total holdings to 33,740 shares valued at approximately $2.45 million.
• The company's recent earnings report showed an EPS of $1.33, exceeding estimates, with quarterly revenues reaching $5.17 billion—a year-over-year increase of 33.6%.
• Lam Research announced a quarterly dividend of $0.23, with an annualized yield of 0.9%, reflecting a payout ratio of 22.12%.

Frank Rimerman Advisors LLC boosted its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 124.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,740 shares of the semiconductor company's stock after acquiring an additional 18,681 shares during the period. Frank Rimerman Advisors LLC's holdings in Lam Research were worth $2,453,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LRCX. Brighton Jones LLC grew its holdings in Lam Research by 1,032.4% during the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock worth $1,025,000 after acquiring an additional 12,936 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Lam Research by 198.6% during the 4th quarter. Renaissance Technologies LLC now owns 88,260 shares of the semiconductor company's stock worth $6,375,000 after buying an additional 58,703 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Lam Research by 18.4% during the 4th quarter. Bessemer Group Inc. now owns 86,609 shares of the semiconductor company's stock worth $6,256,000 after buying an additional 13,452 shares during the last quarter. Phoenix Financial Ltd. lifted its position in shares of Lam Research by 4,569.3% during the 4th quarter. Phoenix Financial Ltd. now owns 16,903 shares of the semiconductor company's stock worth $1,222,000 after buying an additional 16,541 shares during the last quarter. Finally, Scotia Capital Inc. lifted its position in shares of Lam Research by 899.4% during the 4th quarter. Scotia Capital Inc. now owns 29,651 shares of the semiconductor company's stock worth $2,142,000 after buying an additional 26,684 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Stock Performance

Shares of LRCX opened at $101.75 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21. The stock has a market capitalization of $130.15 billion, a P/E ratio of 24.46, a P/E/G ratio of 1.29 and a beta of 1.65. The company's fifty day moving average is $95.53 and its two-hundred day moving average is $83.03. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $102.59.

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

Lam Research Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Oppenheimer boosted their price objective on shares of Lam Research from $110.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. TD Securities reduced 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. UBS Group boosted their price objective on shares of Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Raymond James Financial boosted their price objective on shares of Lam Research from $90.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Stifel Nicolaus boosted their price objective on shares of Lam Research from $92.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $107.09.

Lam Research 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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