Thurston Springer Miller Herd & Titak Inc. Purchases 3,220 Shares of Lam Research Co. (NASDAQ:LRCX)

Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 33.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,985 shares of the semiconductor company's stock after purchasing an additional 3,220 shares during the period. Thurston Springer Miller Herd & Titak Inc.'s holdings in Lam Research were worth $944,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after purchasing an additional 108,619,564 shares during the period. FMR LLC raised its stake in Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after buying 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 worth $2,495,128,000 after acquiring an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC grew its stake 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 acquiring an additional 28,307,499 shares during the period. Finally, Norges Bank bought a new position in shares of Lam Research in the fourth quarter valued at $1,661,672,000. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LRCX has been the subject of a number of analyst reports. Evercore ISI increased their price target on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and boosted their price target for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Wells Fargo & Company decreased their price objective on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Needham & Company LLC cut their target price 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. Finally, Bank of America reduced their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $91.56.

Lam Research Stock Up 0.2%

Shares of NASDAQ:LRCX opened at $84.91 on Friday. The firm has a market capitalization of $108.61 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. The firm has a fifty day moving average of $74.24 and a 200 day moving average of $76.24.

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

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors 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 yield of 1.08%. Lam Research's dividend payout ratio is presently 25.63%.

Lam Research Company Profile

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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