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

Moisand Fitzgerald Tamayo LLC increased its stake in 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 firm owned 9,111 shares of the semiconductor company's stock after buying an additional 8,981 shares during the period. Moisand Fitzgerald Tamayo LLC's holdings in Lam Research were worth $662,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Nilsine Partners LLC grew its position in shares of Lam Research by 7.6% during the 1st quarter. Nilsine Partners LLC now owns 128,223 shares of the semiconductor company's stock worth $9,322,000 after buying an additional 9,022 shares in the last quarter. Aspire Private Capital LLC bought a new position in Lam Research during the 1st quarter worth about $731,000. Praxis Investment Management Inc. increased its position in Lam Research by 4.1% during the 1st quarter. Praxis Investment Management Inc. now owns 28,890 shares of the semiconductor company's stock valued at $2,100,000 after purchasing an additional 1,150 shares during the period. GAM Holding AG lifted its holdings in Lam Research by 31.7% during the first quarter. GAM Holding AG now owns 106,695 shares of the semiconductor company's stock worth $7,757,000 after buying an additional 25,664 shares during the period. Finally, Mayport LLC acquired a new stake in Lam Research in the first quarter valued at approximately $228,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Performance

NASDAQ:LRCX traded up $0.39 during trading hours on Wednesday, reaching $96.02. 8,663,889 shares of the company's stock were exchanged, compared to its average volume of 12,314,149. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $113.00. The company has a 50-day moving average of $80.64 and a 200 day moving average of $77.81. The firm has a market capitalization of $122.82 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 1.35 and a beta of 1.65.

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. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the business posted $7.79 earnings per share. The business's revenue was up 24.4% compared to the same quarter last year. Research analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.96%. Lam Research's dividend payout ratio (DPR) is 25.63%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LRCX. TD Securities dropped their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Bank of America reduced their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Morgan Stanley boosted their price objective on Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Evercore ISI lifted their price target on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Stifel Nicolaus decreased their price objective on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lam Research has an average rating of "Moderate Buy" and an average price target of $93.97.

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.