Phillips Wealth Planners LLC Takes $312,000 Position in Lam Research Corporation (NASDAQ:LRCX)

Phillips Wealth Planners LLC acquired a new stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,628 shares of the semiconductor company's stock, valued at approximately $312,000.

Several other hedge funds have also recently made changes to their positions in LRCX. Vanguard Group Inc. increased its holdings in Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after buying an additional 108,619,564 shares during the last quarter. FMR LLC increased its holdings in Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after buying an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after buying an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC increased its holdings in Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after buying an additional 28,307,499 shares during the last quarter. Finally, Norges Bank purchased a new stake in Lam Research during the fourth quarter valued at approximately $1,661,672,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LRCX shares. TD Cowen reduced their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Jefferies Financial Group increased their price objective on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Barclays reduced 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 research note on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on shares of Lam Research and gave the stock a "hold" rating in a research note on Thursday, April 24th. Finally, Cantor Fitzgerald increased their price objective on shares of Lam Research from $90.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $93.97.

Lam Research Price Performance

LRCX stock opened at $96.02 on Thursday. Lam Research Corporation has a 52 week low of $56.32 and a 52 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 company has a fifty day simple moving average of $81.26 and a two-hundred day simple moving average of $77.94. The firm has a market capitalization of $122.82 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 1.35 and a beta of 1.65.

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

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders 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 annualized dividend and a dividend yield of 0.96%. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

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.

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