Nuveen LLC purchased a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,312,846 shares of the semiconductor company's stock, valued at approximately $604,344,000. Nuveen LLC owned approximately 0.65% of Lam Research as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in Lam Research by 950.5% in the fourth 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 during the period. Northern Trust Corp boosted its holdings in Lam Research by 1,067.0% in the fourth quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock valued at $1,146,235,000 after purchasing an additional 14,509,407 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Lam Research by 6,383.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock valued at $980,500,000 after purchasing an additional 13,365,317 shares during the period. Janus Henderson Group PLC purchased a new position in Lam Research in the fourth quarter valued at $792,161,000. Finally, Vanguard Group Inc. boosted its holdings in Lam Research by 6.9% in the first quarter. Vanguard Group Inc. now owns 129,152,102 shares of the semiconductor company's stock valued at $9,389,358,000 after purchasing an additional 8,364,375 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts recently issued reports on the company. Argus lifted their target price on Lam Research from $105.00 to $120.00 and gave the company a "buy" rating in a report on Friday, August 1st. Summit Insights lowered Lam Research from a "buy" rating to a "hold" rating in a report on Thursday, July 31st. Mizuho lifted their target price on Lam Research from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, August 1st. The Goldman Sachs Group initiated coverage on Lam Research in a research note on Thursday, July 10th. They issued a "buy" rating and a $115.00 price target on the stock. Finally, Morgan Stanley raised their price target on Lam Research from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, Lam Research currently has a consensus rating of "Moderate Buy" and an average price target of $107.09.
View Our Latest Stock Report on Lam Research
Lam Research Stock Performance
LRCX traded up $0.25 during trading on Monday, reaching $102.00. The company's stock had a trading volume of 8,633,919 shares, compared to its average volume of 11,957,262. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $104.15. The company's fifty day moving average price is $95.53 and its 200-day moving average price is $83.04. The company has a market capitalization of $130.47 billion, a price-to-earnings ratio of 24.52, a price-to-earnings-growth ratio of 1.32 and a beta of 1.65. 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 (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The firm's revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 EPS. On average, equities analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.
Lam Research Announces Dividend
The company also recently declared 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 annualized dividend and a dividend yield of 0.9%. Lam Research's payout ratio is 22.12%.
Lam Research Profile
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Free Report)
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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