R Squared Ltd Boosts Stake in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• R Squared Ltd significantly increased its stake in Lam Research Corporation by 407.4% in the first quarter, holding 3,450 shares valued at approximately $251,000.
• Institutional investors own 84.61% of Lam Research stock, indicating strong institutional interest in the semiconductor company.
• Lam Research reported earnings per share of $1.33 for the last quarter, exceeding expectations and representing a 33.6% year-over-year revenue increase.

R Squared Ltd lifted its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 407.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,450 shares of the semiconductor company's stock after acquiring an additional 2,770 shares during the quarter. R Squared Ltd's holdings in Lam Research were worth $251,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LRCX. FMR LLC boosted its holdings in shares of Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after acquiring an additional 36,496,689 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after acquiring an additional 31,255,726 shares during the period. Invesco Ltd. boosted its holdings in shares of Lam Research by 909.5% during the fourth 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 during the period. Northern Trust Corp boosted its holdings in shares of Lam Research by 1,067.0% during the fourth quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock worth $1,146,235,000 after acquiring an additional 14,509,407 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Lam Research by 6,383.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock worth $980,500,000 after acquiring an additional 13,365,317 shares during the period. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Up 1.6%

Shares of NASDAQ LRCX traded up $1.53 during trading on Friday, hitting $96.37. 16,599,413 shares of the company traded hands, compared to its average volume of 10,785,127. The business's fifty day moving average is $93.96 and its 200 day moving average is $82.44. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $102.59. The firm has a market capitalization of $123.27 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.29 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.12. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The business's quarterly revenue was up 33.6% compared to the same quarter last year. Equities research analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio is currently 22.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LRCX shares. B. Riley restated a "buy" rating and set a $115.00 price objective (up previously from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Bank of America dropped 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 report on Wednesday, April 16th. Summit Insights downgraded shares of Lam Research from a "buy" rating to a "hold" rating in a research report on Thursday. Wells Fargo & Company set a $98.00 price target on shares of Lam Research and gave the company an "equal weight" rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 price target on shares of Lam Research and gave the company a "hold" rating in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and an average price target of $107.09.

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.