OneAscent Financial Services LLC acquired a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,864 shares of the semiconductor company's stock, valued at approximately $500,000.
Other institutional investors also recently modified their holdings of the company. FMR LLC grew its stake 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 last quarter. Ameriprise Financial Inc. grew its stake in 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 buying an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC grew its stake in 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 buying an additional 28,307,499 shares during the last quarter. Norges Bank acquired a new position in Lam Research in the 4th quarter valued at about $1,661,672,000. Finally, Invesco Ltd. grew its stake in Lam Research by 909.5% in the 4th quarter. Invesco Ltd. now owns 16,858,135 shares of the semiconductor company's stock valued at $1,217,663,000 after buying an additional 15,188,173 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.
Lam Research Stock Down 1.0%
LRCX stock traded down $0.98 during trading on Friday, reaching $96.81. The stock had a trading volume of 2,128,132 shares, compared to its average volume of 11,891,085. Lam Research Corporation has a one year low of $56.32 and a one year high of $102.59. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The company's 50 day moving average is $92.24 and its two-hundred day moving average is $81.49. The company has a market capitalization of $123.83 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 1.37 and a beta of 1.68.
Lam Research (NASDAQ:LRCX - Get Free Report) last issued 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 net margin of 27.18% and a return on equity of 53.21%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the firm posted $7.79 EPS. The firm's quarterly revenue was up 24.4% compared to the same quarter last year. Equities research analysts forecast that Lam Research Corporation will post 3.71 EPS for the current year.
Lam Research Dividend Announcement
The company 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 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Wednesday, June 18th. Lam Research's payout ratio is 25.63%.
Analyst Ratings Changes
A number of analysts have issued reports on the stock. Oppenheimer reissued an "outperform" rating and issued a $110.00 price objective (up previously from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. Mizuho boosted their price objective on shares of Lam Research from $100.00 to $115.00 and gave the company an "outperform" rating in a report on Monday, July 14th. B. Riley reissued a "buy" rating and issued a $115.00 price objective (up previously from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Wells Fargo & Company upped their price target on shares of Lam Research from $75.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Finally, TD Cowen cut their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $100.57.
View Our Latest Stock Report on Lam Research
About Lam Research
(
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.
Featured Stories
Before you consider Lam Research, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lam Research wasn't on the list.
While Lam Research currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
