Means Investment CO. Inc. Has $4.61 Million Stake in Lam Research Corporation (NASDAQ:LRCX)

Means Investment CO. Inc. decreased its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 52.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,445 shares of the semiconductor company's stock after selling 69,256 shares during the quarter. Means Investment CO. Inc.'s holdings in Lam Research were worth $4,612,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Perspectives Inc raised its stake in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 309 shares during the period. Fairway Wealth LLC increased its position in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 306 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at about $27,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research in the fourth quarter valued at about $27,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Lam Research in the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Trading Down 0.5%

Shares of NASDAQ:LRCX opened at $92.24 on Friday. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $113.00. The stock has a market cap of $117.99 billion, a PE ratio of 25.71, a P/E/G ratio of 1.30 and a beta of 1.65. The business has a 50 day moving average of $79.16 and a 200-day moving average of $77.49. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The company had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter in the previous year, the company posted $7.79 earnings per share. The business's revenue was up 24.4% on a year-over-year basis. As a group, equities research analysts forecast 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 will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is currently 25.63%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Oppenheimer reaffirmed an "outperform" rating and issued a $110.00 target price (up previously from $80.00) on shares of Lam Research in a research report on Tuesday. Morgan Stanley lifted their target price on Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Needham & Company LLC lowered their target price on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Evercore ISI lifted their target price on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, Bank of America lowered their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.

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