Professional Advisory Services Inc. Takes Position in Lam Research Co. (NASDAQ:LRCX)

Professional Advisory Services Inc. purchased a new position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 89,989 shares of the semiconductor company's stock, valued at approximately $6,542,000.

Several other hedge funds have also added to or reduced their stakes in LRCX. Legacy Wealth Asset Management LLC increased its stake in Lam Research by 1.9% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company's stock worth $963,000 after acquiring an additional 248 shares during the period. Paladin Wealth LLC increased its stake in Lam Research by 4.0% during the 1st quarter. Paladin Wealth LLC now owns 7,489 shares of the semiconductor company's stock worth $544,000 after acquiring an additional 289 shares during the period. Fairway Wealth LLC increased its stake in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 306 shares during the period. Financial Perspectives Inc increased its stake in Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 309 shares during the period. Finally, Bell Investment Advisors Inc increased its stake in shares of Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 343 shares during the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LRCX has been the topic of several recent analyst reports. Barclays decreased their price target on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company decreased their price target on Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group lifted their price target on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Argus upgraded Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Finally, UBS Group decreased their price target on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.87.

Lam Research Stock Up 1.7%

LRCX stock opened at $86.35 on Friday. The stock's 50 day simple moving average is $74.51 and its 200 day simple moving average is $76.40. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The company has a market cap of $110.45 billion, a P/E ratio of 26.23, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly 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. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the business earned $7.79 EPS. The firm's revenue for the quarter was up 24.4% on a year-over-year basis. On average, research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

About Lam Research

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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