Tounjian Advisory Partners LLC Takes $876,000 Position in Lam Research Co. (NASDAQ:LRCX)

Tounjian Advisory Partners LLC purchased a new stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,054 shares of the semiconductor company's stock, valued at approximately $876,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Wealth Asset Management LLC grew its holdings in Lam Research by 1.9% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company's stock valued at $963,000 after buying an additional 248 shares in the last quarter. Paladin Wealth LLC lifted its holdings in shares of Lam Research by 4.0% in the first quarter. Paladin Wealth LLC now owns 7,489 shares of the semiconductor company's stock worth $544,000 after buying an additional 289 shares in the last quarter. Fairway Wealth LLC boosted its position in shares of Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 306 shares during the last quarter. Financial Perspectives Inc grew its stake in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 309 shares in the last quarter. Finally, Bell Investment Advisors Inc increased its holdings in Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 343 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Trading Up 3.1%

Shares of NASDAQ:LRCX traded up $2.70 during trading hours on Tuesday, hitting $91.00. 11,116,632 shares of the company's stock traded hands, compared to its average volume of 12,290,837. The firm has a market capitalization of $116.40 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. The business has a fifty day moving average price of $74.80 and a 200-day moving average price of $76.53. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted 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 company had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter in the previous year, the business earned $7.79 EPS. Lam Research's revenue was up 24.4% compared to the same quarter last year. Equities analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently disclosed 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 1.01%. Lam Research's payout ratio is 25.63%.

Analyst Ratings Changes

Several research analysts have commented on LRCX shares. Oppenheimer dropped their price objective on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Stifel Nicolaus decreased their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company cut their price target on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Argus raised Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 target price on shares of Lam Research in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $90.87.

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.