Migdal Insurance & Financial Holdings Ltd. Has $681,000 Holdings in Lam Research Corporation (NASDAQ:LRCX)

Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 368.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,367 shares of the semiconductor company's stock after purchasing an additional 7,367 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.'s holdings in Lam Research were worth $681,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Huntington National Bank raised its holdings in Lam Research by 944.0% in the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock worth $21,291,000 after purchasing an additional 266,527 shares during the period. Cerity Partners LLC raised its holdings in shares of Lam Research by 781.9% during the fourth quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock worth $23,920,000 after acquiring an additional 293,619 shares during the period. Pinnacle Financial Partners Inc bought a new stake in Lam Research in the 1st quarter valued at $201,000. B. Riley Wealth Advisors Inc. bought a new stake in Lam Research in the 4th quarter valued at $6,296,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in Lam Research by 27.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock valued at $3,607,000 after acquiring an additional 10,565 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Jefferies Financial Group raised their target price on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, March 28th. UBS Group decreased their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Needham & Company LLC decreased their price objective on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group initiated coverage on shares of Lam Research in a research report on Thursday, July 10th. They issued a "buy" rating and a $115.00 price objective for the company. Finally, Morgan Stanley lifted their target price on shares of Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and a consensus target price of $99.14.

Lam Research Price Performance

NASDAQ:LRCX traded down $0.13 during trading hours on Friday, hitting $100.66. The company's stock had a trading volume of 8,114,872 shares, compared to its average volume of 12,303,086. The business's 50-day moving average is $91.10 and its two-hundred day moving average is $80.88. The company has a market capitalization of $128.76 billion, a PE ratio of 28.05, a PEG ratio of 1.42 and a beta of 1.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $102.19.

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

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders 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 dividend on an annualized basis and a yield of 0.91%. Lam Research's dividend payout ratio (DPR) 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.