Penserra Capital Management LLC Boosts Stock Holdings in Lam Research Corporation (NASDAQ:LRCX)

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LRCX. Fairway Wealth LLC increased its stake in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in Lam Research during the first quarter worth about $26,000. West Paces Advisors Inc. purchased a new stake in Lam Research during the fourth quarter worth about $27,000. Mpwm Advisory Solutions LLC purchased a new stake in Lam Research during the fourth quarter worth about $27,000. Finally, Bell Investment Advisors Inc increased its holdings in 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 buying an additional 343 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on LRCX shares. Argus upgraded shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Citigroup restated a "buy" rating and set a $108.00 price objective (up previously from $87.00) on shares of Lam Research in a report on Monday. B. Riley restated a "buy" rating and set a $115.00 price objective (up previously from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on shares of Lam Research and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, Barclays decreased their price objective on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and an average price target of $96.05.

Lam Research Price Performance

Lam Research stock traded up $1.72 during mid-day trading on Tuesday, hitting $99.86. 3,896,710 shares of the company traded hands, compared to its average volume of 12,320,997. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. Lam Research Corporation has a one year low of $56.32 and a one year high of $113.00. The stock has a market cap of $127.73 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 1.39 and a beta of 1.68. The stock has a fifty day moving average price of $86.23 and a 200-day moving average price of $79.21.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted 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. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm's revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.79 EPS. On average, equities analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company 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 dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.92%. Lam Research's dividend payout ratio is 25.63%.

About Lam Research

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.