Jackson Wealth Management LLC Boosts Stake in Lam Research Corporation (NASDAQ:LRCX)

Jackson Wealth Management LLC boosted its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 103,053 shares of the semiconductor company's stock after buying an additional 2,691 shares during the quarter. Jackson Wealth Management LLC's holdings in Lam Research were worth $7,492,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC raised its position in shares of Lam Research by 33.3% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 800 shares of the semiconductor company's stock worth $58,000 after acquiring an additional 200 shares in the last quarter. Whelan Financial grew its stake in Lam Research by 12.1% in the first quarter. Whelan Financial now owns 3,944 shares of the semiconductor company's stock valued at $287,000 after purchasing an additional 425 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in Lam Research by 53.0% in the first quarter. Concurrent Investment Advisors LLC now owns 15,729 shares of the semiconductor company's stock valued at $1,144,000 after purchasing an additional 5,448 shares during the last quarter. HM Payson & Co. grew its stake in Lam Research by 1.2% in the first quarter. HM Payson & Co. now owns 1,160,402 shares of the semiconductor company's stock valued at $84,362,000 after purchasing an additional 14,125 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Lam Research in the first quarter valued at about $111,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LRCX. TD Cowen cut their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $115.00 price target (up from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. Bank of America cut their price target 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. Jefferies Financial Group boosted their target price on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Finally, Wells Fargo & Company boosted their target price on Lam Research from $75.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $96.05.

Lam Research Stock Performance

Shares of LRCX stock traded up $1.69 during trading hours on Tuesday, hitting $99.83. The company's stock had a trading volume of 9,567,260 shares, compared to its average volume of 12,362,515. The company has a 50 day moving average of $86.23 and a 200 day moving average of $79.21. The stock has a market cap of $127.69 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 1.38 and a beta of 1.68. 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 12-month low of $56.32 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the business earned $7.79 earnings per share. The company's revenue was up 24.4% compared to the same quarter last year. On average, sell-side analysts forecast that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be given a $0.23 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.92%. Lam Research's dividend payout ratio is presently 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.