Swiss National Bank Lowers Stake in Lam Research Corporation (NASDAQ:LRCX)

Swiss National Bank trimmed its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 0.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,629,000 shares of the semiconductor company's stock after selling 32,500 shares during the quarter. Swiss National Bank owned about 0.28% of Lam Research worth $263,828,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Pinnacle Financial Partners Inc bought a new stake in shares of Lam Research in the 1st quarter worth about $201,000. B. Riley Wealth Advisors Inc. bought a new stake in Lam Research in the fourth quarter worth about $6,296,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Lam Research by 27.1% during 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 buying an additional 10,565 shares during the last quarter. First Citizens Bank & Trust Co. boosted its holdings in Lam Research by 47.8% during the 1st 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 during the period. Finally, Global X Japan Co. Ltd. bought a new position in shares of Lam Research in the first quarter worth about $3,152,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Up 3.3%

Shares of Lam Research stock opened at $99.15 on Friday. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $102.59. The company has a fifty day moving average price of $95.10 and a 200 day moving average price of $82.89. The stock has a market cap of $126.82 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 1.24 and a beta of 1.65.

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

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.9%. Lam Research's dividend payout ratio is 22.12%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Needham & Company LLC raised their price objective on Lam Research from $110.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, July 31st. TD Securities decreased their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Mizuho increased their price target on shares of Lam Research from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Barclays set a $83.00 price objective on shares of Lam Research and gave the company an "equal weight" rating in a research note on Monday, July 28th. Finally, Stifel Nicolaus increased their price target on shares of Lam Research from $92.00 to $110.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $107.09.

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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