MWA Asset Management Grows Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• MWA Asset Management increased its stake in Lam Research Corporation by 30.8% in the first quarter, now holding 23,305 shares valued at $1,694,000.
• Lam Research has received mixed analyst ratings, with a consensus rating of "Moderate Buy" and an average target price set at $107.09 by several brokerages.
• The company reported a net margin of 29.07% and a year-over-year revenue increase of 33.6%, with quarterly earnings exceeding expectations at $1.33 per share.

MWA Asset Management increased its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 30.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,305 shares of the semiconductor company's stock after buying an additional 5,484 shares during the period. Lam Research comprises about 1.2% of MWA Asset Management's holdings, making the stock its 26th largest position. MWA Asset Management's holdings in Lam Research were worth $1,694,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinnacle Financial Partners Inc purchased a new stake in shares of Lam Research in the 1st quarter worth about $201,000. Cerity Partners LLC boosted its position in shares of Lam Research by 781.9% in the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock worth $23,920,000 after buying an additional 293,619 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Lam Research in the 4th quarter worth about $6,296,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Lam Research by 27.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock worth $3,607,000 after buying an additional 10,565 shares in the last quarter. Finally, First Citizens Bank & Trust Co. boosted its position in shares of Lam Research by 47.8% in the 1st quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company's stock worth $8,862,000 after buying an additional 39,414 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on LRCX. Summit Insights downgraded shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Thursday. B. Riley reissued 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. Morgan Stanley boosted their target price on shares of Lam Research from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. Finally, Citigroup boosted their target price on shares of Lam Research from $108.00 to $113.00 and gave the company a "buy" rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and an average target price of $107.09.

Lam Research Stock Up 1.6%

Shares of NASDAQ:LRCX opened at $96.37 on Monday. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $102.59. The company has a 50 day moving average of $93.96 and a two-hundred day moving average of $82.44. The company has a market capitalization of $123.27 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 1.29 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the company earned $1.03 earnings per share. Lam Research's revenue for the quarter was up 33.6% on a year-over-year basis. As a group, analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders 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 annualized dividend and a yield of 1.0%. Lam Research's dividend payout ratio (DPR) is 22.12%.

About Lam Research

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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