Lam Research Corporation (NASDAQ:LRCX) Shares Bought by Tower Bridge Advisors

Key Points

• Tower Bridge Advisors significantly increased its stake in Lam Research by 262.2%, acquiring an additional 102,395 shares, bringing its total to 141,450 shares worth approximately $10.3 million.
• Several hedge funds have made substantial modifications to their holdings in Lam Research, with some increasing their stakes by over 1,000% in the last quarter, resulting in institutional investors owning 84.61% of the company.
• Lam Research recently reported a quarterly earnings per share (EPS) of $1.33, surpassing analysts' expectations of $1.20, and has a projected EPS of 3.71 for the current fiscal year.

Tower Bridge Advisors increased its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 262.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,450 shares of the semiconductor company's stock after acquiring an additional 102,395 shares during the period. Lam Research makes up about 1.1% of Tower Bridge Advisors' holdings, making the stock its 25th largest holding. Tower Bridge Advisors' holdings in Lam Research were worth $10,283,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of Lam Research by 1,032.4% in the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after purchasing an additional 12,936 shares in the last quarter. Clearbridge Investments LLC raised its stake in Lam Research by 767.6% in the fourth quarter. Clearbridge Investments LLC now owns 421,563 shares of the semiconductor company's stock valued at $30,449,000 after buying an additional 372,976 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Lam Research in the 4th quarter valued at about $9,075,000. Wellington Management Group LLP increased its holdings in shares of Lam Research by 8,156.2% in the 4th quarter. Wellington Management Group LLP now owns 1,991,718 shares of the semiconductor company's stock valued at $143,862,000 after acquiring an additional 1,967,594 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. increased its holdings in shares of Lam Research by 863.0% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 520 shares of the semiconductor company's stock valued at $37,000 after acquiring an additional 466 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LRCX shares. 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 report on Wednesday, June 18th. KeyCorp upped their target price on shares of Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $115.00 target price (up from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. Stifel Nicolaus lifted their target price on shares of Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a report on Tuesday. Finally, TD Cowen decreased their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report 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 stock. According to MarketBeat, Lam Research has an average rating of "Moderate Buy" and a consensus target price of $102.05.

Lam Research Price Performance

NASDAQ:LRCX traded up $0.15 during trading hours on Wednesday, reaching $99.09. 12,275,994 shares of the company traded hands, compared to its average volume of 8,748,110. The firm's 50-day moving average is $93.41 and its 200-day moving average is $82.09. The stock has a market cap of $126.75 billion, a P/E ratio of 27.62, a P/E/G ratio of 1.40 and a beta of 1.68. 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 1-year low of $56.32 and a 1-year high of $102.59.

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 $1.20 by $0.13. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The company's quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. Equities research analysts expect 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. Shareholders of record on Wednesday, June 18th were issued a $0.23 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. 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.