Spectrum Strategic Capital Management LLC Acquires Shares of 2,270 Lam Research Corporation $LRCX

Key Points

• Spectrum Strategic Capital Management LLC has acquired 2,270 shares of Lam Research Corporation, valued at approximately $221,000, during the second quarter of 2023.
• Lam Research reported $1.33 earnings per share (EPS) for the last quarter, exceeding expectations, with revenue reaching $5.17 billion, a 33.6% increase year-over-year.
• The company announced a quarterly dividend increase to $0.26 per share, representing an annualized dividend of $1.04 and a yield of 0.8%, which will be paid on October 15th.

Spectrum Strategic Capital Management LLC acquired a new stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,270 shares of the semiconductor company's stock, valued at approximately $221,000.

Several other institutional investors also recently bought and sold shares of LRCX. Empowered Funds LLC lifted its position in shares of Lam Research by 10.5% in the first quarter. Empowered Funds LLC now owns 187,472 shares of the semiconductor company's stock valued at $13,629,000 after acquiring an additional 17,833 shares in the last quarter. Pinnacle Financial Partners Inc purchased a new position in shares of Lam Research in the first quarter valued at approximately $201,000. Cookson Peirce & Co. Inc. purchased a new position in shares of Lam Research in the first quarter valued at approximately $607,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Lam Research by 27.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock valued at $3,607,000 after acquiring an additional 10,565 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its position in shares of Lam Research by 47.8% in the first quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company's stock valued at $8,862,000 after acquiring an additional 39,414 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Price Performance

LRCX stock opened at $131.09 on Tuesday. The business has a fifty day moving average of $106.87 and a two-hundred day moving average of $90.67. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38. The stock has a market cap of $165.31 billion, a price-to-earnings ratio of 31.51, a price-to-earnings-growth ratio of 1.62 and a beta of 1.76. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $133.57.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. The company had revenue of $5.17 billion during the quarter, compared to analysts' expectations of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%.The firm's quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. Lam Research has set its Q1 2026 guidance at 1.100-1.300 EPS. As a group, research analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 24th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. This is a positive change from Lam Research's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, September 24th. Lam Research's payout ratio is 25.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LRCX shares. The Goldman Sachs Group started coverage on Lam Research in a research report on Thursday, July 10th. They issued a "buy" rating and a $115.00 target price on the stock. Stifel Nicolaus raised their target price on Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. TD Cowen raised their target price on Lam Research from $100.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Oppenheimer raised their target price on Lam Research from $110.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Argus lifted their price objective on Lam Research from $105.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Twenty-one research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $114.83.

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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