Oak Grove Capital LLC purchased a new stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,700 shares of the semiconductor company's stock, valued at approximately $1,868,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC purchased a new position in Lam Research during the 1st quarter valued at $26,000. West Paces Advisors Inc. purchased a new position in Lam Research during the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC purchased a new position in Lam Research during the 4th quarter valued at $27,000. Park Square Financial Group LLC purchased a new position in Lam Research during the 4th quarter valued at $31,000. Finally, Putney Financial Group LLC purchased a new position in Lam Research during the 4th quarter valued at $36,000. 84.61% of the stock is currently owned by institutional investors.
Lam Research Stock Performance
Shares of NASDAQ LRCX opened at $107.38 on Friday. The firm's 50-day moving average price is $97.24 and its 200-day moving average price is $83.73. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38. The company has a market cap of $135.90 billion, a PE ratio of 25.81, a PEG ratio of 1.38 and a beta of 1.65. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $108.02.
Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The firm had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the firm posted $1.03 EPS. The business's quarterly revenue was up 33.6% compared to the same quarter last year. As a group, analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current year.
Lam Research Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were paid 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%.
Analysts Set New Price Targets
LRCX has been the topic of a number of research analyst reports. Needham & Company LLC boosted their price objective on shares of Lam Research from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Evercore ISI upped their target price on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the stock a "hold" rating in a research report on Thursday, April 24th. The Goldman Sachs Group assumed coverage on shares of Lam Research in a research report on Thursday, July 10th. They issued a "buy" rating and a $115.00 target price on the stock. Finally, Oppenheimer upped their target price on shares of Lam Research from $110.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Seven investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, Lam Research currently has an average rating of "Moderate Buy" and an average target price of $107.09.
Read Our Latest Stock Report on LRCX
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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