Russell Investments Group Ltd. raised its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 6.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,194,672 shares of the semiconductor company's stock after purchasing an additional 136,031 shares during the period. Russell Investments Group Ltd. owned about 0.17% of Lam Research worth $159,544,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in LRCX. Smallwood Wealth Investment Management LLC bought a new stake in shares of Lam Research during the 1st quarter valued at about $26,000. West Paces Advisors Inc. bought a new position in shares of Lam Research during the fourth quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of Lam Research during the fourth quarter valued at approximately $27,000. Park Square Financial Group LLC bought a new position in shares of Lam Research during the fourth quarter valued at approximately $31,000. Finally, Putney Financial Group LLC bought a new position in shares of Lam Research during the fourth quarter valued at approximately $36,000. 84.61% of the stock is owned by institutional investors and hedge funds.
Lam Research Price Performance
Shares of NASDAQ:LRCX opened at $102.00 on Tuesday. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $104.15. The firm has a market capitalization of $130.47 billion, a PE ratio of 24.52, a PEG ratio of 1.32 and a beta of 1.65. The business's 50 day moving average is $95.92 and its 200-day moving average is $83.19. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38.
Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. Lam Research's revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. Sell-side analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current year.
Lam Research Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.9%. Lam Research's payout ratio is currently 22.12%.
Wall Street Analyst Weigh In
A number of research analysts recently commented on LRCX shares. Barclays set a $83.00 price objective on Lam Research and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Wells Fargo & Company set a $98.00 price objective on Lam Research and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Stifel Nicolaus upped their price objective on Lam Research from $92.00 to $110.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Oppenheimer upped their price objective on Lam Research from $110.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Raymond James Financial upped their price objective on Lam Research from $90.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $107.09.
Read Our Latest Stock Report on LRCX
Lam Research Company Profile
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Free Report)
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.
See Also
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