Moran Wealth Management LLC 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 (SEC). The fund purchased 6,746 shares of the semiconductor company's stock, valued at approximately $490,000.
A number of other institutional investors have also recently made changes to their positions in the company. Fairway Wealth LLC grew its holdings in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares in the last quarter. West Paces Advisors Inc. purchased a new stake in Lam Research in the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC purchased a new stake in Lam Research in the 4th quarter valued at $27,000. Bell Investment Advisors Inc grew its holdings in Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after buying an additional 343 shares in the last quarter. Finally, Avalon Trust Co grew its holdings in Lam Research by 791.3% in the 4th quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock valued at $30,000 after buying an additional 364 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.
Lam Research Price Performance
LRCX stock opened at $97.20 on Friday. 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 company has a market capitalization of $124.33 billion, a PE ratio of 27.09, a P/E/G ratio of 1.36 and a beta of 1.65. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $113.00. The business's fifty day moving average price is $82.59 and its 200 day moving average price is $78.22.
Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion for 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 company's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.79 EPS. On average, sell-side analysts anticipate 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 will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.95%. Lam Research's dividend payout ratio (DPR) is 25.63%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the company. Oppenheimer restated an "outperform" rating and issued a $110.00 target price (up from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. Cantor Fitzgerald restated an "overweight" rating and issued a $115.00 target price (up from $90.00) on shares of Lam Research in a report on Tuesday. Jefferies Financial Group upped their target price on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, March 28th. Needham & Company LLC decreased their price target on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Bank of America decreased their price target 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. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $93.97.
View Our Latest Report on LRCX
Lam Research Profile
(
Free Report)
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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