Novem Group Raises Holdings in Lam Research Corporation (NASDAQ:LRCX)

Novem Group grew its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 22.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,918 shares of the semiconductor company's stock after buying an additional 3,709 shares during the quarter. Novem Group's holdings in Lam Research were worth $1,448,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LRCX. Vanguard Group Inc. lifted its stake in shares of Lam Research by 892.7% during the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock worth $8,724,498,000 after buying an additional 108,619,564 shares during the last quarter. FMR LLC increased its holdings in Lam Research by 1,032.6% in the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after buying an additional 36,496,689 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Lam Research by 950.5% in the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Lam Research in the 4th quarter valued at approximately $1,661,672,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on LRCX shares. Argus upgraded shares of Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Barclays decreased their price target on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Needham & Company LLC reduced their target price on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Oppenheimer reiterated an "outperform" rating and issued a $110.00 target price (up previously from $80.00) on shares of Lam Research in a research note on Tuesday, June 17th. Finally, UBS Group cut their price target on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, April 14th. 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.20.

Lam Research Trading Down 0.2%

NASDAQ LRCX traded down $0.17 on Thursday, reaching $98.66. 5,028,931 shares of the company were exchanged, compared to its average volume of 12,346,776. The business's fifty day moving average price is $84.60 and its 200 day moving average price is $78.66. The stock has a market capitalization of $126.20 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 1.39 and a beta of 1.68. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The company 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 revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.79 earnings per share. Analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. Lam Research's dividend payout ratio is currently 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.