Lam Research Corporation (NASDAQ:LRCX) Stock Holdings Raised by Penserra Capital Management LLC

Penserra Capital Management LLC boosted its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 32.6% in the 1st quarter, according to the company in its most recent disclosure 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 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cloud Capital Management LLC acquired a new position in Lam Research during the first quarter worth about $43,000. Jackson Wealth Management LLC increased its holdings in Lam Research by 2.7% in the first quarter. Jackson Wealth Management LLC now owns 103,053 shares of the semiconductor company's stock valued at $7,492,000 after buying an additional 2,691 shares during the last quarter. Atlantic Edge Private Wealth Management LLC raised its holdings in Lam Research by 33.3% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 800 shares of the semiconductor company's stock worth $58,000 after purchasing an additional 200 shares in the last quarter. Whelan Financial boosted its holdings in shares of Lam Research by 12.1% in the first quarter. Whelan Financial now owns 3,944 shares of the semiconductor company's stock valued at $287,000 after acquiring an additional 425 shares during the period. Finally, Concurrent Investment Advisors LLC grew its position in Lam Research by 53.0% during the 1st quarter. Concurrent Investment Advisors LLC now owns 15,729 shares of the semiconductor company's stock worth $1,144,000 after purchasing an additional 5,448 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Trading Down 0.7%

LRCX stock traded down $0.67 during midday trading on Monday, reaching $98.14. 7,238,322 shares of the company's stock traded hands, compared to its average volume of 12,353,327. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The business has a 50-day moving average price of $85.70 and a two-hundred day moving average price of $79.03. The company has a market capitalization of $125.53 billion, a P/E ratio of 27.35, a PEG ratio of 1.39 and a beta of 1.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 53.21% and a net margin of 27.18%. The company's revenue was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.79 earnings per share. Equities research analysts forecast that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Wednesday, June 18th. Lam Research's payout ratio is 25.63%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LRCX shares. UBS Group dropped their target price on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company reduced their target price on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Morgan Stanley boosted their price objective on shares of Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Oppenheimer reaffirmed an "outperform" rating and issued a $110.00 target price (up from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. Finally, Argus raised Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. 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 company. According to MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and an average target price of $95.10.

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.