Phraction Management LLC Boosts Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Phraction Management LLC grew its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 69.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,554 shares of the semiconductor company's stock after buying an additional 9,240 shares during the period. Phraction Management LLC's holdings in Lam Research were worth $1,640,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Fairway Wealth LLC raised its position in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 306 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in Lam Research during the 1st quarter valued at $26,000. West Paces Advisors Inc. bought a new stake in Lam Research in the fourth quarter worth $27,000. Mpwm Advisory Solutions LLC purchased a new position in Lam Research during the fourth quarter worth $27,000. Finally, Bell Investment Advisors Inc increased its position in Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 343 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Trading Down 0.2%

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 12,346,776. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $113.00. The company has a market cap of $126.20 billion, a P/E ratio of 27.50, a P/E/G ratio of 1.39 and a beta of 1.68. The company has a 50-day moving average of $85.15 and a 200 day moving average of $78.80. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share 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 company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the business posted $7.79 EPS. Lam Research's revenue was up 24.4% on a year-over-year basis. Sell-side analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio is presently 25.63%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LRCX shares. Argus upgraded shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Needham & Company LLC dropped their target price on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Morgan Stanley increased their price target on Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday. Stifel Nicolaus decreased their price target on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $110.00 price objective (up previously from $80.00) on shares of Lam Research in a research report on Tuesday, June 17th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and an average target price of $94.20.

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.