Lam Research Corporation (NASDAQ:LRCX) Shares Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC lifted its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 32.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,250 shares of the semiconductor company's stock after acquiring an additional 60,344 shares during the quarter. Penserra Capital Management LLC's holdings in Lam Research were worth $17,828,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairway Wealth LLC lifted its stake in shares of Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 306 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in Lam Research during the 1st quarter worth approximately $26,000. West Paces Advisors Inc. acquired a new position in Lam Research during the 4th quarter worth approximately $27,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Lam Research during the fourth quarter worth $27,000. Finally, Bell Investment Advisors Inc lifted its position in shares of Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 343 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on LRCX. Morgan Stanley boosted their target price on shares of Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Bank of America cut their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Barclays cut their price target on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $115.00 price target (up previously from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. Finally, UBS Group cut their target price on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Seven equities 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 company presently has a consensus rating of "Moderate Buy" and an average price target of $94.20.

Lam Research Stock Performance

NASDAQ LRCX traded down $0.17 during trading hours on Friday, hitting $98.66. The company had a trading volume of 5,028,931 shares, compared to its average volume of 12,373,875. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. 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 business has a fifty day simple moving average of $85.70 and a 200-day simple moving average of $78.97. The firm has a market cap of $126.20 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 1.39 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share 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 for the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter last year, the company earned $7.79 EPS. The company's revenue for the quarter was up 24.4% compared to the same quarter last year. Equities analysts predict that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.93%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio is currently 25.63%.

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.