Portside Wealth Group LLC Acquires Shares of 3,921 Lam Research Co. (NASDAQ:LRCX)

Portside Wealth Group LLC bought a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 3,921 shares of the semiconductor company's stock, valued at approximately $285,000.

Other institutional investors also recently modified their holdings of the company. One Charles Private Wealth Services LLC increased its stake in Lam Research by 843.4% in the fourth quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock valued at $289,000 after purchasing an additional 3,576 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Lam Research by 1,032.4% in the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after buying an additional 12,936 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Lam Research in the 4th quarter valued at $1,775,000. Apollon Wealth Management LLC raised its stake in Lam Research by 611.2% during the 4th quarter. Apollon Wealth Management LLC now owns 23,177 shares of the semiconductor company's stock worth $1,674,000 after buying an additional 19,918 shares during the period. Finally, Stephens Inc. AR raised its stake in Lam Research by 1,410.7% during the 4th quarter. Stephens Inc. AR now owns 6,194 shares of the semiconductor company's stock worth $447,000 after buying an additional 5,784 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Stock Up 0.8%

LRCX stock traded up $0.71 during mid-day trading on Thursday, reaching $91.66. The company had a trading volume of 5,986,149 shares, compared to its average volume of 12,275,437. The company has a market capitalization of $117.24 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 1.47 and a beta of 1.65. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The stock has a 50 day simple moving average of $76.55 and a two-hundred day simple moving average of $76.85. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

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. 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 51.86% and a net margin of 26.49%. The firm's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.79 EPS. As a group, equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Analysts Set New Price Targets

A number of research analysts have issued reports on LRCX shares. Wells Fargo & Company decreased their target price on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Argus upgraded Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Stifel Nicolaus dropped their target price on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Oppenheimer cut their price target on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Finally, TD Securities lowered 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 report on Thursday, April 24th. 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $90.87.

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.