Pacer Advisors Inc. Acquires 18,655 Shares of Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Pacer Advisors Inc. increased its holdings in Lam Research Corporation (NASDAQ:LRCX) by 9.2%, acquiring an additional 18,655 shares for a total of 221,015 shares valued at approximately $16.07 million.
• Multiple hedge funds have adjusted their stakes in Lam Research, with Neo Ivy Capital Management boosting its position by 134% in the first quarter, now owning 46,592 shares.
• Brokerages have recently updated their price targets for Lam Research, with Mizuho raising it to $115 and UBS lifting it to $120, reflecting a generally favorable outlook from analysts.

Pacer Advisors Inc. raised its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 9.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 221,015 shares of the semiconductor company's stock after acquiring an additional 18,655 shares during the period. Pacer Advisors Inc.'s holdings in Lam Research were worth $16,068,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Smallwood Wealth Investment Management LLC purchased a new stake in Lam Research in the 1st quarter worth approximately $26,000. West Paces Advisors Inc. purchased a new stake in Lam Research in the 4th quarter worth approximately $27,000. Mpwm Advisory Solutions LLC purchased a new stake in Lam Research in the 4th quarter worth approximately $27,000. Park Square Financial Group LLC purchased a new stake in Lam Research in the 4th quarter worth approximately $31,000. Finally, Putney Financial Group LLC purchased a new stake in Lam Research in the 4th quarter worth approximately $36,000. Institutional investors own 84.61% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Mizuho increased 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. TD Securities cut their price objective 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. KeyCorp increased their price objective on shares of Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley increased their price objective on shares of Lam Research from $82.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 price objective on shares of Lam Research and gave the company a "hold" rating in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $102.05.

Lam Research Trading Up 0.4%

LRCX traded up $0.39 during trading on Wednesday, reaching $99.33. The company had a trading volume of 2,760,699 shares, compared to its average volume of 11,816,004. The stock has a market cap of $127.06 billion, a P/E ratio of 27.69, a PEG ratio of 1.39 and a beta of 1.68. The business has a 50 day simple moving average of $93.08 and a 200-day simple moving average of $81.97. Lam Research Corporation has a 52 week low of $56.32 and a 52 week 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.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.93%. Lam Research's dividend payout ratio is presently 25.63%.

Lam Research 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.