Lam Research Corporation (NASDAQ:LRCX) Shares Purchased by Neo Ivy Capital Management

Key Points

• Neo Ivy Capital Management has significantly increased its stake in Lam Research Corporation, raising its holdings by 134.0% to a total of 46,592 shares, valued at approximately $3.4 million.
• Several analysts have raised their target prices for Lam Research, with the consensus rating now being a "Moderate Buy" and an average target price of $100.57.
• Lam Research has announced a quarterly dividend of $0.23 per share, yielding 0.95%, and reported impressive quarterly earnings with revenue increasing 24.4% year-over-year.

Neo Ivy Capital Management increased its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 134.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,592 shares of the semiconductor company's stock after purchasing an additional 26,678 shares during the quarter. Lam Research makes up about 1.1% of Neo Ivy Capital Management's investment portfolio, making the stock its 12th biggest holding. Neo Ivy Capital Management's holdings in Lam Research were worth $3,387,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in LRCX. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Lam Research during the 1st quarter worth about $26,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research during the 4th quarter worth about $27,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Lam Research during the 4th quarter worth about $27,000. Park Square Financial Group LLC acquired a new stake in shares of Lam Research during the 4th quarter worth about $31,000. Finally, Putney Financial Group LLC acquired a new stake in shares of Lam Research during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on LRCX shares. Wells Fargo & Company raised their target price on shares of Lam Research from $75.00 to $95.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on shares of Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. Mizuho raised their price target on shares of Lam Research from $100.00 to $115.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Evercore ISI raised their price target on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Morgan Stanley raised their price target on shares of Lam Research from $82.00 to $87.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Seven equities research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.57.

Lam Research Price Performance

NASDAQ LRCX traded down $0.82 during trading hours on Friday, reaching $96.96. The company's stock had a trading volume of 8,912,992 shares, compared to its average volume of 8,968,377. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $102.59. The firm's 50-day moving average price is $92.49 and its 200-day moving average price is $81.62. The company has a market capitalization of $124.02 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.38 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the company posted $7.79 EPS. The company's revenue was up 24.4% compared to the same quarter last year. On average, equities research analysts predict that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm 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. This represents a $0.92 annualized dividend and a yield of 0.95%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Lam Research 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.