Natixis Advisors LLC Increases Stake in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Natixis Advisors LLC increased its holdings in Lam Research Corporation by 35.3%, owning 720,180 shares valued at approximately $52.36 million.
• Lam Research reported earnings per share of $1.33 for the last quarter, exceeding analysts' estimates, with a year-over-year revenue increase of 33.6%.
• Several analysts raised their price targets for Lam Research stock, with Citigroup adjusting it from $108.00 to $113.00, while the stock has an average target of $107.09 among analysts.

Natixis Advisors LLC increased its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 35.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 720,180 shares of the semiconductor company's stock after acquiring an additional 187,842 shares during the period. Natixis Advisors LLC owned approximately 0.06% of Lam Research worth $52,357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the company. Pinnacle Financial Partners Inc bought a new position in shares of Lam Research during the first quarter valued at approximately $201,000. Cerity Partners LLC grew its stake in shares of Lam Research by 781.9% in the fourth quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock worth $23,920,000 after acquiring an additional 293,619 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in Lam Research during the 4th quarter valued at $6,296,000. China Universal Asset Management Co. Ltd. lifted its holdings in Lam Research by 27.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock valued at $3,607,000 after acquiring an additional 10,565 shares during the period. Finally, Pitcairn Co. purchased a new position in Lam Research in the fourth quarter worth about $1,013,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Price Performance

Shares of LRCX traded up $1.82 during trading hours on Monday, reaching $98.19. The stock had a trading volume of 3,246,215 shares, compared to its average volume of 11,966,305. The stock has a market capitalization of $125.60 billion, a PE ratio of 23.57, a PEG ratio of 1.29 and a beta of 1.65. The company's 50-day moving average is $93.96 and its two-hundred day moving average is $82.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $102.59.

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 for the quarter, beating the consensus estimate of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The business had revenue of $5.17 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period last year, the business earned $1.03 EPS. The business's revenue was up 33.6% on a year-over-year basis. Research analysts expect that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio is 22.12%.

Wall Street Analyst Weigh In

LRCX has been the topic of several recent research reports. Oppenheimer raised their price objective on Lam Research from $110.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday. Argus lifted their price objective on Lam Research from $105.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday. Stifel Nicolaus boosted their price objective on Lam Research from $92.00 to $110.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, Needham & Company LLC upped their price objective on Lam Research from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday. Seven 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $107.09.

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.