Townsquare Capital LLC Grows Stock Holdings in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Townsquare Capital LLC increased its stake in Lam Research Corporation by 13.2% during the 1st quarter, acquiring an additional 10,539 shares, bringing its total holdings to 90,326 shares worth $6,567,000.
• Lam Research posted earnings of $1.33 EPS for the quarter, exceeding analysts’ expectations, with revenue reaching $5.17 billion, a 33.6% increase year-over-year.
• The company recently announced a quarterly dividend of $0.23 per share, indicating a 0.9% dividend yield and a payout ratio of 22.12%.

Townsquare Capital LLC raised its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 13.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,326 shares of the semiconductor company's stock after purchasing an additional 10,539 shares during the quarter. Townsquare Capital LLC's holdings in Lam Research were worth $6,567,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Smallwood Wealth Investment Management LLC acquired a new stake in Lam Research during the 1st quarter worth approximately $26,000. West Paces Advisors Inc. acquired a new stake in Lam Research during the 4th quarter worth approximately $27,000. Mpwm Advisory Solutions LLC acquired a new stake in Lam Research during the 4th quarter worth approximately $27,000. Park Square Financial Group LLC acquired a new stake in Lam Research during the 4th quarter worth approximately $31,000. Finally, Putney Financial Group LLC acquired a new stake in Lam Research during the 4th quarter worth approximately $36,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LRCX. Raymond James Financial increased their target price on shares of Lam Research from $90.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Oppenheimer boosted their target price on shares of Lam Research from $110.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Evercore ISI boosted their target price on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. UBS Group boosted their target price on shares of Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Finally, TD Securities lowered their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.09.

Lam Research Stock Performance

NASDAQ:LRCX traded up $0.25 during mid-day trading on Monday, reaching $102.00. The stock had a trading volume of 8,633,919 shares, compared to its average volume of 11,957,262. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21. The business has a 50 day simple moving average of $95.53 and a 200 day simple moving average of $83.04. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $104.15. The firm has a market capitalization of $130.47 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 1.32 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the company posted $1.03 earnings per share. Lam Research's quarterly revenue was up 33.6% on a year-over-year basis. On average, 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 disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.9%. Lam Research's payout ratio is currently 22.12%.

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.