Quadrant Private Wealth Management LLC Invests $211,000 in Lam Research Corporation (NASDAQ:LRCX)

Quadrant Private Wealth Management LLC purchased a new position in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,890 shares of the semiconductor company's stock, valued at approximately $211,000.

A number of other large investors have also recently made changes to their positions in the stock. Smallwood Wealth Investment Management LLC purchased a new position in Lam Research in the first quarter worth $26,000. West Paces Advisors Inc. purchased a new position in Lam Research in the fourth quarter worth $27,000. Mpwm Advisory Solutions LLC purchased a new position in Lam Research in the fourth quarter worth $27,000. Park Square Financial Group LLC purchased a new position in Lam Research in the fourth quarter worth $31,000. Finally, Putney Financial Group LLC purchased a new position in Lam Research in the fourth quarter worth $36,000. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Performance

Lam Research stock traded down $0.77 during mid-day trading on Friday, reaching $97.01. 5,542,081 shares of the stock traded hands, compared to its average volume of 11,914,914. The stock has a market capitalization of $124.08 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 1.37 and a beta of 1.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $102.59. The business's 50-day moving average is $92.24 and its 200-day moving average is $81.49.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. Lam Research'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 business earned $7.79 earnings per share. As a group, sell-side analysts predict that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's payout ratio is 25.63%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LRCX shares. Bank of America lowered their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. B. Riley restated a "buy" rating and issued a $115.00 price objective (up previously from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. UBS Group boosted their target price on Lam Research from $95.00 to $120.00 and gave the company a "buy" rating in a research note on Monday. Evercore ISI boosted their target price on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Barclays cut their price objective on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Seven investment 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's stock. Based on 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.