PFG Advisors Raises Position in Lam Research Corporation (NASDAQ:LRCX)

PFG Advisors boosted its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 53.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,309 shares of the semiconductor company's stock after purchasing an additional 14,326 shares during the quarter. PFG Advisors' holdings in Lam Research were worth $3,003,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of LRCX. HighPoint Advisor Group LLC increased its position in shares of Lam Research by 2.6% in the 1st quarter. HighPoint Advisor Group LLC now owns 21,483 shares of the semiconductor company's stock valued at $1,523,000 after acquiring an additional 539 shares during the period. Gries Financial LLC increased its stake in Lam Research by 6.6% during the 1st quarter. Gries Financial LLC now owns 11,762 shares of the semiconductor company's stock worth $855,000 after buying an additional 728 shares in the last quarter. Crestwood Advisors Group LLC increased its stake in Lam Research by 3.6% during the 1st quarter. Crestwood Advisors Group LLC now owns 339,568 shares of the semiconductor company's stock worth $24,687,000 after buying an additional 11,873 shares in the last quarter. GW&K Investment Management LLC lifted its stake in Lam Research by 10.1% in the 1st quarter. GW&K Investment Management LLC now owns 1,534 shares of the semiconductor company's stock worth $112,000 after purchasing an additional 141 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new position in Lam Research in the 1st quarter worth approximately $41,000. Institutional investors own 84.61% of the company's stock.

Lam Research Trading Down 0.8%

Shares of LRCX stock traded down $0.79 during trading hours on Friday, hitting $96.99. 5,260,751 shares of the company's stock traded hands, compared to its average volume of 11,913,115. The stock's 50 day simple moving average is $92.24 and its 200 day simple moving average is $81.49. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $102.59. The stock has a market cap of $124.06 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.37 and a beta of 1.68. 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 (NASDAQ:LRCX - Get Free Report) last announced its earnings results 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. The business 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%. Lam Research's quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the firm earned $7.79 earnings per share. On average, sell-side analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Wall Street Analyst Weigh In

A number of research firms recently commented on LRCX. Needham & Company LLC decreased their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. KeyCorp boosted their price target on shares of Lam Research from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Cantor Fitzgerald restated 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. Wells Fargo & Company boosted their price target on shares of Lam Research from $75.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Finally, B. Riley reiterated a "buy" rating and set a $115.00 price target (up previously from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $100.57.

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.