Lam Research Corporation (NASDAQ:LRCX) Stock Holdings Raised by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC lifted its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 6.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,882 shares of the semiconductor company's stock after buying an additional 3,098 shares during the period. Hohimer Wealth Management LLC's holdings in Lam Research were worth $3,481,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Huntington National Bank grew its position in Lam Research by 944.0% in the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock worth $21,291,000 after purchasing an additional 266,527 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Lam Research by 781.9% in the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock worth $23,920,000 after acquiring an additional 293,619 shares during the period. Pinnacle Financial Partners Inc acquired a new stake in shares of Lam Research in the 1st quarter worth approximately $201,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Lam Research in the 4th quarter worth approximately $6,296,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Lam Research by 27.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock worth $3,607,000 after acquiring an additional 10,565 shares during the period. Institutional investors own 84.61% of the company's stock.

Lam Research Stock Up 0.7%

Shares of NASDAQ LRCX opened at $101.73 on Monday. The company has a 50 day simple moving average of $88.50 and a 200 day simple moving average of $79.96. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $108.23. The firm has a market cap of $130.12 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of 1.44 and a beta of 1.68. 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 (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The company's revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the business earned $7.79 EPS. On average, research analysts forecast that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is 25.63%.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Lam Research in a report on Thursday. They set a "buy" rating and a $115.00 price target on the stock. Jefferies Financial Group upped their price objective on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Wells Fargo & Company upped their price objective on shares of Lam Research from $75.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $115.00 price target (up from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. Finally, Morgan Stanley raised their price objective 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 analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $97.48.

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.

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