Nutshell Asset Management Ltd Acquires Shares of 56,000 Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Nutshell Asset Management Ltd acquired 56,000 shares of Lam Research Corporation, valued at approximately $4,071,000, making it the 18th biggest position in its portfolio.
• Lam Research's latest earnings report revealed a net margin of 29.07% and revenue of $5.17 billion, exceeding analyst expectations.
• The company recently announced a quarterly dividend of $0.23 per share, which corresponds to an annual yield of 0.9%.

Nutshell Asset Management Ltd bought a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 56,000 shares of the semiconductor company's stock, valued at approximately $4,071,000. Lam Research comprises approximately 2.1% of Nutshell Asset Management Ltd's portfolio, making the stock its 18th biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC bought a new stake in shares of Lam Research during the first quarter worth approximately $26,000. West Paces Advisors Inc. acquired a new stake in Lam Research during the 4th quarter worth $27,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Lam Research during the 4th quarter valued at $27,000. Park Square Financial Group LLC acquired a new position in shares of Lam Research in the 4th quarter valued at $31,000. Finally, Putney Financial Group LLC bought a new position in shares of Lam Research in the 4th quarter worth $36,000. Institutional investors own 84.61% of the company's stock.

Lam Research Stock Performance

Shares of LRCX stock opened at $99.15 on Friday. The firm's 50 day moving average is $95.10 and its 200 day moving average is $82.89. The stock has a market capitalization of $126.82 billion, a P/E ratio of 23.83, a PEG ratio of 1.24 and a beta of 1.65. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38. 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 posted its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The firm's revenue was up 33.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. On average, sell-side analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.9%. Lam Research's payout ratio is presently 22.12%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays set a $83.00 price objective on Lam Research and gave the company an "equal weight" rating in a report on Monday, July 28th. Wall Street Zen raised Lam Research from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. The Goldman Sachs Group started coverage on shares of Lam Research in a research report on Thursday, July 10th. They issued a "buy" rating and a $115.00 price target on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $115.00 price objective (up previously from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. Finally, Raymond James Financial raised their price objective on Lam Research from $90.00 to $110.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Lam Research has an average rating of "Moderate Buy" and an average target price of $107.09.

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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