Lam Research Corporation (NASDAQ:LRCX) Shares Purchased by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC raised its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 133.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,172 shares of the semiconductor company's stock after buying an additional 15,528 shares during the period. Terra Nova Asset Management LLC's holdings in Lam Research were worth $1,975,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of LRCX. Vanguard Group Inc. boosted its position in shares of Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock worth $8,724,498,000 after buying an additional 108,619,564 shares during the period. FMR LLC boosted its holdings in Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares during the period. Ameriprise Financial Inc. boosted its holdings in Lam Research by 950.5% in the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares during the period. Geode Capital Management LLC boosted its holdings in Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares during the period. Finally, Norges Bank purchased a new position in Lam Research in the fourth quarter valued at $1,661,672,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LRCX. Cantor Fitzgerald reiterated an "overweight" rating and issued a $115.00 target price (up from $90.00) on shares of Lam Research in a report on Tuesday. Needham & Company LLC decreased their target price on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 24th. B. Riley reiterated a "buy" rating and issued a $115.00 target price (up from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. UBS Group decreased their target price on Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Oppenheimer restated an "outperform" rating and issued a $110.00 price target (up from $80.00) on shares of Lam Research in a research note on Tuesday, June 17th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $93.97.

Lam Research Stock Performance

Shares of LRCX traded up $0.36 during midday trading on Friday, reaching $97.20. 10,779,709 shares of the stock were exchanged, compared to its average volume of 12,323,436. The business's 50-day moving average price is $81.92 and its 200 day moving average price is $78.07. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $113.00. The company has a market capitalization of $124.33 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 1.36 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The business had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter in the previous year, the firm earned $7.79 earnings per share. The business's revenue was up 24.4% compared to the same quarter last year. On average, sell-side analysts expect that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared 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. This represents a $0.92 annualized dividend and a yield of 0.95%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

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.