Rhumbline Advisers Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Rhumbline Advisers increased its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,595,820 shares of the semiconductor company's stock after buying an additional 57,711 shares during the quarter. Rhumbline Advisers owned about 0.20% of Lam Research worth $188,716,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Centerpoint Advisors LLC increased its holdings in Lam Research by 900.0% during the 4th quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock worth $72,000 after purchasing an additional 900 shares in the last quarter. E. Ohman J or Asset Management AB bought a new stake in Lam Research during the 4th quarter worth approximately $4,258,000. Huntington National Bank increased its holdings in Lam Research by 944.0% during the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock worth $21,291,000 after purchasing an additional 266,527 shares in the last quarter. ICICI Prudential Asset Management Co Ltd increased its holdings in Lam Research by 1,401.1% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 70,475 shares of the semiconductor company's stock worth $5,090,000 after purchasing an additional 65,780 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in Lam Research by 781.9% during the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock worth $23,920,000 after purchasing an additional 293,619 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Performance

Shares of NASDAQ:LRCX traded up $1.18 during trading on Thursday, hitting $85.95. 3,604,954 shares of the company were exchanged, compared to its average volume of 12,230,615. The company has a market cap of $109.94 billion, a PE ratio of 26.11, a P/E/G ratio of 1.47 and a beta of 1.64. The stock has a 50 day moving average of $74.00 and a 200 day moving average of $76.14. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. 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 posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the business posted $7.79 earnings per share. The business's quarterly revenue was up 24.4% on a year-over-year basis. As a group, equities research analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and upped their target price for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Bank of America reduced their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Oppenheimer reduced their target price on Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 target price on shares of Lam Research in a report on Thursday, April 24th. Finally, Wells Fargo & Company reduced their target price on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lam Research has an average rating of "Moderate Buy" and a consensus price target of $91.56.

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.