OneAscent Investment Solutions LLC Buys New Stake in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• OneAscent Investment Solutions LLC acquired a new stake in Lam Research Corporation, purchasing 3,367 shares valued at approximately $245,000 during the first quarter.
• Lam Research's earnings report showed a 33.6% year-over-year revenue growth, with earnings per share of $1.33, surpassing the consensus estimate of $1.21.
• The company recently declared a quarterly dividend of $0.23 per share, reflecting an annualized dividend yield of 0.9%.

OneAscent Investment Solutions LLC purchased a new position in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,367 shares of the semiconductor company's stock, valued at approximately $245,000.

Several other institutional investors also recently modified their holdings of LRCX. Ameriprise Financial Inc. increased 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 worth $2,495,128,000 after acquiring an additional 31,255,726 shares in the last quarter. Northern Trust Corp grew its position in Lam Research by 1,067.0% during the 4th 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Lam Research by 6,383.5% during the 4th 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 last quarter. Janus Henderson Group PLC purchased a new stake in Lam Research during the 4th quarter valued at about $792,161,000. Finally, Vanguard Group Inc. grew its position in Lam Research by 6.9% during the 1st 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 last quarter. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on LRCX shares. Raymond James Financial increased their price objective on shares of Lam Research from $90.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Wells Fargo & Company set a $98.00 price objective on shares of Lam Research and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Citigroup increased their price objective on shares of Lam Research from $108.00 to $113.00 and gave the company a "buy" rating in a research report on Friday, August 1st. The Goldman Sachs Group started coverage on shares of Lam Research in a research report on Thursday, July 10th. They set a "buy" rating and a $115.00 price objective on the stock. Finally, Barclays set a $83.00 price target on shares of Lam Research and gave the company an "equal weight" rating in a report on Monday, July 28th. Seven analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.09.

Lam Research Stock Performance

NASDAQ LRCX traded up $0.64 on Thursday, reaching $107.38. 10,710,878 shares of the stock were exchanged, compared to its average volume of 11,344,454. Lam Research Corporation has a one year low of $56.32 and a one year high of $108.02. The firm has a market capitalization of $135.90 billion, a PE ratio of 25.81, a PEG ratio of 1.38 and a beta of 1.65. The company's 50-day simple moving average is $97.24 and its two-hundred day simple moving average is $83.73. 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 (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, topping 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 company had revenue of $5.17 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter last year, the business earned $1.03 EPS. The firm's revenue was up 33.6% compared to the same quarter last year. Analysts expect that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

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

Lam Research Company 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.