Private Advisor Group LLC Buys 5,664 Shares of Lam Research Corporation (NASDAQ:LRCX)

Private Advisor Group LLC lifted its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 10.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,701 shares of the semiconductor company's stock after acquiring an additional 5,664 shares during the period. Private Advisor Group LLC's holdings in Lam Research were worth $4,413,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. FMR LLC grew its position in Lam Research by 1,032.6% in the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares during the period. Ameriprise Financial Inc. lifted its stake in Lam Research by 950.5% in the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after purchasing an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Lam Research by 907.1% during the 4th 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 in the last quarter. Norges Bank bought a new stake in shares of Lam Research in the fourth quarter valued at about $1,661,672,000. Finally, Invesco Ltd. raised its position in shares of Lam Research by 909.5% in the 4th quarter. Invesco Ltd. now owns 16,858,135 shares of the semiconductor company's stock worth $1,217,663,000 after acquiring an additional 15,188,173 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Trading Down 0.9%

Shares of NASDAQ:LRCX traded down $0.92 on Friday, reaching $96.86. 2,128,132 shares of the company traded hands, compared to its average volume of 11,891,085. The business's 50-day simple moving average is $92.24 and its 200 day simple moving average is $81.49. 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 Corporation has a 52 week low of $56.32 and a 52 week high of $102.59. The stock has a market capitalization of $123.89 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 1.37 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly 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. The business had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.79 earnings per share. As a group, equities analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

Analyst Upgrades and Downgrades

LRCX has been the topic of several analyst reports. Needham & Company LLC dropped their target price on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Bank of America decreased their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. KeyCorp raised their price objective on shares of Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley lifted their price target on Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Finally, Oppenheimer reissued an "outperform" rating and issued a $110.00 target price (up previously from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Lam Research presently has an average rating of "Moderate Buy" and an average target price 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.