Lam Research Corporation (NASDAQ:LRCX) Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Lam Research Corporation by 2.8%, owning approximately 1.35% of the company's shares valued at about $1.26 billion.
• Lam Research reported quarterly earnings of $1.33 per share, beating analysts' estimates, with revenue of $5.17 billion reflecting a 33.6% year-over-year increase.
• Recent analyst reports have raised Lam Research's target stock price to between $95.00 and $120.00, indicating a generally positive outlook with multiple "buy" ratings issued.

Invesco Ltd. increased its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 2.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,330,771 shares of the semiconductor company's stock after purchasing an additional 472,636 shares during the period. Invesco Ltd. owned approximately 1.35% of Lam Research worth $1,259,947,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in Lam Research by 1,032.4% during the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after buying an additional 12,936 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Lam Research by 198.6% during the fourth quarter. Renaissance Technologies LLC now owns 88,260 shares of the semiconductor company's stock valued at $6,375,000 after buying an additional 58,703 shares during the last quarter. Bessemer Group Inc. increased its holdings in Lam Research by 18.4% during the fourth quarter. Bessemer Group Inc. now owns 86,609 shares of the semiconductor company's stock valued at $6,256,000 after buying an additional 13,452 shares during the last quarter. Phoenix Financial Ltd. increased its holdings in Lam Research by 4,569.3% during the fourth quarter. Phoenix Financial Ltd. now owns 16,903 shares of the semiconductor company's stock valued at $1,222,000 after buying an additional 16,541 shares during the last quarter. Finally, Scotia Capital Inc. increased its holdings in Lam Research by 899.4% during the fourth quarter. Scotia Capital Inc. now owns 29,651 shares of the semiconductor company's stock valued at $2,142,000 after buying an additional 26,684 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of analyst reports. Raymond James Financial increased their price objective on shares of Lam Research from $90.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Oppenheimer increased their price objective on shares of Lam Research from $110.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. TD Cowen increased their price objective on shares of Lam Research from $100.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Mizuho increased their price objective on shares of Lam Research from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Barclays set a $83.00 price objective on shares of Lam Research and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.09.

Lam Research Price Performance

LRCX stock traded up $2.60 during trading on Friday, hitting $101.75. 8,761,658 shares of the company's stock traded hands, compared to its average volume of 11,458,919. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $102.59. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21. The business has a fifty day simple moving average of $95.53 and a 200 day simple moving average of $83.02. The stock has a market capitalization of $130.15 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.32 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. The business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. Lam Research's quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 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 company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is 22.12%.

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.