OVERSEA CHINESE BANKING Corp Ltd Raises Stock Holdings in Lam Research Corporation (NASDAQ:LRCX)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 14.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 120,924 shares of the semiconductor company's stock after buying an additional 15,720 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Lam Research were worth $8,791,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of LRCX. Smallwood Wealth Investment Management LLC bought a new position in shares of Lam Research in the 1st quarter worth $26,000. West Paces Advisors Inc. bought a new position in shares of Lam Research in the 4th quarter worth $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of Lam Research in the 4th quarter worth $27,000. Avalon Trust Co lifted its holdings in shares of Lam Research by 791.3% in the 4th quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 364 shares in the last quarter. Finally, Park Square Financial Group LLC bought a new position in shares of Lam Research in the 4th quarter worth $31,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

Lam Research stock traded down $0.09 during midday trading on Friday, reaching $100.70. The stock had a trading volume of 4,938,529 shares, compared to its average volume of 12,313,904. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $102.19. The firm's 50-day moving average price is $90.60 and its 200 day moving average price is $80.62. The firm has a market capitalization of $128.81 billion, a PE ratio of 28.05, a P/E/G ratio of 1.42 and a beta of 1.68. 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 (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The business had revenue of $4.72 billion during 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 company's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.79 EPS. As a group, research analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Wednesday, June 18th. Lam Research's payout ratio is presently 25.63%.

Wall Street Analyst Weigh In

LRCX has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on Lam Research from $75.00 to $95.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. KeyCorp raised their price objective on Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Tuesday. Argus upgraded Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Barclays dropped their price objective on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Finally, UBS Group dropped their price objective on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $99.14.

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.