Wealth Enhancement Advisory Services LLC Has $21.82 Million Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 14.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 300,193 shares of the semiconductor company's stock after acquiring an additional 36,825 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Lam Research were worth $21,824,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of LRCX. Fairway Wealth LLC raised its holdings in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 306 shares during the period. Midwest Capital Advisors LLC bought a new stake in Lam Research in the fourth quarter valued at approximately $27,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research in the fourth quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of Lam Research during the 4th quarter worth approximately $27,000. Finally, Bell Investment Advisors Inc increased its holdings in shares of Lam Research by 836.6% during the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 343 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Trading Down 1.9%

NASDAQ LRCX traded down $1.75 on Friday, reaching $90.49. The company had a trading volume of 22,922,800 shares, compared to its average volume of 12,306,003. The firm has a market cap of $115.75 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 1.27 and a beta of 1.65. 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 fifty-two week low of $56.32 and a fifty-two week high of $113.00. The business has a 50 day moving average of $79.62 and a two-hundred day moving average of $77.57.

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

Lam Research Announces Dividend

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

Wall Street Analyst Weigh In

LRCX has been the topic of a number of recent research reports. Stifel Nicolaus lowered their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 price objective on shares of Lam Research in a report on Thursday, April 24th. Bank of America dropped their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. TD Cowen reduced their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company decreased their price target on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $92.78.

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.