Peregrine Investment Management Inc. Boosts Stock Holdings in Lam Research Corporation (NASDAQ:LRCX)

Peregrine Investment Management Inc. grew its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 130,630 shares of the semiconductor company's stock after acquiring an additional 4,980 shares during the period. Lam Research comprises about 7.1% of Peregrine Investment Management Inc.'s investment portfolio, making the stock its 2nd biggest holding. Peregrine Investment Management Inc.'s holdings in Lam Research were worth $9,497,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LRCX shares. TD Cowen cut their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Oppenheimer reissued an "outperform" rating and issued a $110.00 target price (up previously from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. The Goldman Sachs Group started coverage on shares of Lam Research in a report on Thursday. They issued a "buy" rating and a $115.00 target price on the stock. Jefferies Financial Group raised their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Finally, Morgan Stanley raised their target price on shares of Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.48.

Lam Research Price Performance

NASDAQ:LRCX traded up $0.67 during midday trading on Friday, hitting $101.73. 6,202,556 shares of the stock were exchanged, compared to its average volume of 12,344,380. Lam Research Corporation has a one year low of $56.32 and a one year high of $108.23. The company has a market capitalization of $130.12 billion, a price-to-earnings ratio of 28.35, a P/E/G ratio of 1.44 and a beta of 1.68. The business has a 50-day moving average price of $88.50 and a two-hundred day moving average price of $79.92. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39.

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

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were issued a $0.23 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.90%. Lam Research's dividend payout ratio is currently 25.63%.

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.