Park Avenue Securities LLC Has $4.07 Million Position in Lam Research Co. (NASDAQ:LRCX)

Park Avenue Securities LLC grew its holdings in Lam Research Co. (NASDAQ:LRCX - Free Report) by 5.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,015 shares of the semiconductor company's stock after acquiring an additional 3,085 shares during the quarter. Park Avenue Securities LLC's holdings in Lam Research were worth $4,072,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Centerpoint Advisors LLC lifted its position in shares of Lam Research by 900.0% in the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock worth $72,000 after acquiring an additional 900 shares during the period. Huntington National Bank lifted its position in Lam Research by 944.0% in the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock worth $21,291,000 after purchasing an additional 266,527 shares during the period. ICICI Prudential Asset Management Co Ltd lifted its position in Lam Research by 1,401.1% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 70,475 shares of the semiconductor company's stock worth $5,090,000 after purchasing an additional 65,780 shares during the period. Cerity Partners LLC boosted its stake in Lam Research by 781.9% during the fourth quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock worth $23,920,000 after buying an additional 293,619 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Lam Research in the 4th quarter valued at $6,296,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Trading Up 3.1%

Shares of LRCX stock traded up $2.70 on Tuesday, reaching $91.00. 11,115,944 shares of the stock were exchanged, compared to its average volume of 12,290,834. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00. The stock has a market cap of $116.40 billion, a PE ratio of 27.64, a P/E/G ratio of 1.47 and a beta of 1.65. The stock has a 50 day moving average price of $74.80 and a 200 day moving average price of $76.53.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.79 EPS. Equities research analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.01%. Lam Research's dividend payout ratio is presently 25.63%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LRCX. Morgan Stanley raised their price objective on shares of Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. UBS Group cut their price target on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $90.00 price objective on shares of Lam Research in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, Jefferies Financial Group raised their target price on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $90.87.

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.