Mirae Asset Global Investments Co. Ltd. Acquires 79,837 Shares of Lam Research Corporation (NASDAQ:LRCX)

Mirae Asset Global Investments Co. Ltd. boosted its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 6.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,327,919 shares of the semiconductor company's stock after buying an additional 79,837 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.10% of Lam Research worth $96,420,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of LRCX. Transcend Capital Advisors LLC lifted its position in shares of Lam Research by 2.3% in the 1st quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock worth $586,000 after acquiring an additional 182 shares during the period. Field & Main Bank lifted its position in shares of Lam Research by 9.0% in the 1st quarter. Field & Main Bank now owns 2,595 shares of the semiconductor company's stock worth $189,000 after acquiring an additional 215 shares during the period. Investment Partners Asset Management Inc. lifted its position in Lam Research by 5.4% in the first quarter. Investment Partners Asset Management Inc. now owns 4,373 shares of the semiconductor company's stock worth $318,000 after purchasing an additional 226 shares during the period. Childress Capital Advisors LLC lifted its position in Lam Research by 6.1% in the first quarter. Childress Capital Advisors LLC now owns 4,178 shares of the semiconductor company's stock worth $304,000 after purchasing an additional 240 shares during the period. Finally, Salem Investment Counselors Inc. lifted its position in Lam Research by 5.5% in the first quarter. Salem Investment Counselors Inc. now owns 4,716 shares of the semiconductor company's stock worth $344,000 after purchasing an additional 246 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on LRCX shares. Argus raised Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Evercore ISI raised their price objective on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. B. Riley restated a "buy" rating and set a $115.00 price target (up previously from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on shares of Lam Research and gave the stock a "hold" rating in a research note on Thursday, April 24th. Finally, TD Securities cut their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Seven investment 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 company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $93.97.

Lam Research Price Performance

Shares of Lam Research stock traded up $0.36 during trading on Friday, reaching $97.20. The company's stock had a trading volume of 10,779,709 shares, compared to its average volume of 12,323,438. Lam Research Corporation has a one year low of $56.32 and a one year high of $113.00. The stock has a market capitalization of $124.33 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 1.36 and a beta of 1.65. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average price of $82.59 and a two-hundred day moving average price of $78.22.

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 for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the firm posted $7.79 earnings per share. The company's revenue was up 24.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Lam Research Corporation will post 3.71 EPS 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. Stockholders of record on Wednesday, June 18th will be given 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 0.95%. Lam Research's 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.