Montrusco Bolton Investments Inc. Makes New Investment in Lam Research Corporation (NASDAQ:LRCX)

Montrusco Bolton Investments Inc. purchased a new position in Lam Research Corporation (NASDAQ:LRCX - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,726,228 shares of the semiconductor company's stock, valued at approximately $122,357,000. Lam Research accounts for about 1.6% of Montrusco Bolton Investments Inc.'s investment portfolio, making the stock its 23rd largest position. Montrusco Bolton Investments Inc. owned about 0.13% of Lam Research at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of LRCX. Smallwood Wealth Investment Management LLC purchased a new position in shares of Lam Research during the first quarter valued at approximately $26,000. West Paces Advisors Inc. bought a new stake in shares of Lam Research during the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Lam Research during the 4th quarter valued at $27,000. Park Square Financial Group LLC bought a new stake in shares of Lam Research during the 4th quarter valued at $31,000. Finally, Cedar Wealth Management LLC purchased a new stake in shares of Lam Research in the fourth quarter worth $34,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Performance

NASDAQ:LRCX traded up $0.42 during trading hours on Thursday, reaching $100.79. The company had a trading volume of 9,744,562 shares, compared to its average volume of 12,342,620. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $102.19. The firm has a market cap of $128.92 billion, a PE ratio of 28.09, a price-to-earnings-growth ratio of 1.42 and a beta of 1.68. The business's 50 day moving average price is $90.08 and its 200-day moving average price is $80.43. 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 posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The firm's revenue was up 24.4% compared to the same quarter last year. During the same period in the prior year, the company earned $7.79 EPS. Research analysts forecast that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio is currently 25.63%.

Wall Street Analysts Forecast Growth

LRCX has been the topic of several analyst reports. B. Riley reiterated a "buy" rating and issued a $115.00 target price (up previously from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. Jefferies Financial Group increased their price objective on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Wells Fargo & Company raised their target price on shares of Lam Research from $75.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Mizuho increased their price objective on shares of Lam Research from $100.00 to $115.00 and gave the company an "outperform" rating in a report on Monday. Finally, Citigroup reaffirmed a "buy" rating and set a $108.00 price objective (up from $87.00) on shares of Lam Research in a research note on Monday, July 7th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $99.14.

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.