Lam Research Corporation (NASDAQ:LRCX) Shares Bought by Moisand Fitzgerald Tamayo LLC

Moisand Fitzgerald Tamayo LLC grew its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 6,908.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,111 shares of the semiconductor company's stock after purchasing an additional 8,981 shares during the period. Moisand Fitzgerald Tamayo LLC's holdings in Lam Research were worth $662,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of LRCX. Investment Partners Asset Management Inc. grew its holdings in Lam Research by 5.4% in the first quarter. Investment Partners Asset Management Inc. now owns 4,373 shares of the semiconductor company's stock valued at $318,000 after purchasing an additional 226 shares during the period. Salem Investment Counselors Inc. grew its holdings in Lam Research by 5.5% in the first quarter. Salem Investment Counselors Inc. now owns 4,716 shares of the semiconductor company's stock valued at $344,000 after purchasing an additional 246 shares during the period. Legacy Wealth Asset Management LLC grew its holdings in Lam Research by 1.9% in the first quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company's stock valued at $963,000 after purchasing an additional 248 shares during the period. ORG Partners LLC grew its holdings in Lam Research by 19.2% in the first quarter. ORG Partners LLC now owns 1,562 shares of the semiconductor company's stock valued at $114,000 after purchasing an additional 252 shares during the period. Finally, Shepherd Financial Partners LLC grew its holdings in Lam Research by 4.6% in the first quarter. Shepherd Financial Partners LLC now owns 6,072 shares of the semiconductor company's stock valued at $441,000 after purchasing an additional 266 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Trading Down 1.9%

LRCX opened at $90.49 on Friday. The stock has a market capitalization of $115.75 billion, a PE ratio of 25.22, a P/E/G ratio of 1.27 and a beta of 1.65. The firm's fifty day moving average price is $79.62 and its 200 day moving average price is $77.57. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. 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 posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm's quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the company posted $7.79 earnings per share. As a group, research analysts expect that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 1.02%. Lam Research's dividend payout ratio is presently 25.63%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LRCX. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 target price on shares of Lam Research in a report on Thursday, April 24th. Bank of America lowered their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Oppenheimer reiterated an "outperform" rating and set a $110.00 price objective (up from $80.00) on shares of Lam Research in a research note on Tuesday, June 17th. Barclays decreased their price objective on shares of 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. Finally, TD Cowen decreased 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 note on Thursday, April 24th. Seven 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. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of "Moderate Buy" and an average price target of $92.78.

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.

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