Lam Research Corporation (NASDAQ:LRCX) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 2.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 150,415 shares of the semiconductor company's stock after buying an additional 3,740 shares during the period. State of Alaska Department of Revenue's holdings in Lam Research were worth $10,935,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. One Charles Private Wealth Services LLC lifted its stake in shares of Lam Research by 843.4% in the 4th quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock worth $289,000 after acquiring an additional 3,576 shares during the period. Brighton Jones LLC raised its holdings in Lam Research by 1,032.4% during the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock worth $1,025,000 after purchasing an additional 12,936 shares in the last quarter. Congress Asset Management Co. raised its holdings in Lam Research by 903.7% during the fourth quarter. Congress Asset Management Co. now owns 3,764 shares of the semiconductor company's stock worth $272,000 after purchasing an additional 3,389 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in Lam Research by 695.2% in the fourth quarter. J.W. Cole Advisors Inc. now owns 3,117 shares of the semiconductor company's stock valued at $225,000 after purchasing an additional 2,725 shares during the period. Finally, Americana Partners LLC boosted its holdings in Lam Research by 599.2% in the 4th quarter. Americana Partners LLC now owns 3,426 shares of the semiconductor company's stock valued at $247,000 after purchasing an additional 2,936 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Price Performance

LRCX stock traded down $0.42 on Thursday, reaching $92.24. The company had a trading volume of 9,373,055 shares, compared to its average volume of 12,291,497. The company's fifty day moving average is $78.65 and its 200 day moving average is $77.39. The company has a market cap of $117.99 billion, a P/E ratio of 25.71, a PEG ratio of 1.30 and a beta of 1.65. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The business's revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the business earned $7.79 earnings per share. On average, research analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.00%. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LRCX shares. Needham & Company LLC cut their target price on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. B. Riley reiterated 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. TD Cowen reduced their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. TD Securities lowered their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $90.00 price objective on shares of Lam Research in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of "Moderate Buy" and an average price target of $92.78.

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.