Lam Research Co. (NASDAQ:LRCX) Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC raised its position in Lam Research Co. (NASDAQ:LRCX - Free Report) by 17.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,509 shares of the semiconductor company's stock after buying an additional 3,845 shares during the quarter. Merit Financial Group LLC's holdings in Lam Research were worth $1,855,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LRCX. Financial Perspectives Inc grew its holdings in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 309 shares in the last quarter. Fairway Wealth LLC grew its holdings in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 306 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Lam Research during the 4th quarter worth $27,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research during the 4th quarter worth $27,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Lam Research during the 4th quarter worth $27,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Price Performance

Shares of Lam Research stock traded up $1.44 on Friday, hitting $86.35. 7,875,825 shares of the company were exchanged, compared to its average volume of 12,260,808. The stock has a market capitalization of $110.45 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. The company has a 50-day moving average price of $74.51 and a 200 day moving average price of $76.35. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.79 earnings per share. As a group, sell-side analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.07%. Lam Research's payout ratio is currently 25.63%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, April 24th. TD Cowen reduced their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Oppenheimer reduced their price objective on Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Bank of America reduced their price objective on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, Mizuho raised their price objective on Lam Research from $87.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $91.56.

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.