Meeder Advisory Services Inc. Purchases 3,849 Shares of Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Meeder Advisory Services Inc. increased its holdings in Lam Research Corporation by 12.3%, acquiring an additional 3,849 shares, bringing their total to 35,180 shares worth approximately $2.56 million.
• Lam Research recently announced a quarterly dividend of $0.23, reflecting an annual yield of 0.93% and a payout ratio of 25.63%.
• Analyst ratings for Lam Research include upgrades from UBS and B. Riley, with price targets raised to as high as $120.00, indicating a strong overall sentiment amongst analysts.

Meeder Advisory Services Inc. increased its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 12.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,180 shares of the semiconductor company's stock after acquiring an additional 3,849 shares during the quarter. Meeder Advisory Services Inc.'s holdings in Lam Research were worth $2,558,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Huntington National Bank lifted its position in Lam Research by 944.0% during the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock valued at $21,291,000 after purchasing an additional 266,527 shares during the last quarter. Pinnacle Financial Partners Inc bought a new stake in Lam Research during the first quarter valued at approximately $201,000. Cerity Partners LLC lifted its position in Lam Research by 781.9% during the fourth quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock valued at $23,920,000 after purchasing an additional 293,619 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Lam Research during the fourth quarter valued at approximately $6,296,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in Lam Research by 27.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock valued at $3,607,000 after purchasing an additional 10,565 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. UBS Group lifted their price target on shares of Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Cantor Fitzgerald reissued an "overweight" rating and set a $115.00 price target (up from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. Stifel Nicolaus lifted their price target on shares of Lam Research from $92.00 to $110.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Raymond James Financial lifted their price target on shares of Lam Research from $90.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $106.87.

Lam Research Stock Up 1.1%

Shares of NASDAQ:LRCX traded up $1.03 during midday trading on Friday, reaching $95.87. The company's stock had a trading volume of 8,910,990 shares, compared to its average volume of 11,971,760. The firm has a 50 day moving average of $93.65 and a 200-day moving average of $82.23. The firm has a market capitalization of $122.63 billion, a P/E ratio of 22.99, a PEG ratio of 1.40 and a beta of 1.68. 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 Corporation has a 12-month low of $56.32 and a 12-month high of $102.59.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. The firm had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 59.69%. The company's revenue was up 33.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. On average, research analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.0%. Lam Research's dividend payout ratio is currently 25.63%.

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.