Secure Asset Management LLC Purchases New Position in Lam Research Co. (NASDAQ:LRCX)

Secure Asset Management LLC acquired a new stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,254 shares of the semiconductor company's stock, valued at approximately $2,272,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Centerpoint Advisors LLC raised its holdings in shares of Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock worth $72,000 after buying an additional 900 shares during the period. E. Ohman J or Asset Management AB bought a new position in Lam Research in the fourth quarter worth approximately $4,258,000. Huntington National Bank grew its stake in Lam Research by 944.0% in the fourth 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 grew its stake in Lam Research by 1,401.1% in the fourth 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 grew its stake in Lam Research by 781.9% in the fourth 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 currently owned by hedge funds and other institutional investors.

Lam Research Stock Performance

LRCX stock traded up $0.14 during midday trading on Thursday, reaching $84.91. The stock had a trading volume of 10,906,395 shares, compared to its average volume of 12,261,457. The stock has a market cap of $108.61 billion, a PE ratio of 25.79, a P/E/G ratio of 1.47 and a beta of 1.64. 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 firm has a fifty day simple moving average of $74.00 and a two-hundred day simple moving average of $76.14. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm's quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the business posted $7.79 EPS. As a group, equities research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.08%. Lam Research's payout ratio is currently 25.63%.

Analyst Ratings Changes

Several brokerages recently issued reports on LRCX. Susquehanna raised Lam Research from a "neutral" rating to a "positive" rating and increased their price objective for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Oppenheimer dropped their price objective on Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Needham & Company LLC dropped their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company dropped their price objective 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. Finally, TD Securities dropped their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $91.56.

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.