True North Advisors LLC Acquires Shares of 34,664 Lam Research Corporation (NASDAQ:LRCX)

Key Points

• True North Advisors LLC invested approximately $2.52 million in Lam Research Corporation by purchasing 34,664 shares in the first quarter, according to their Form 13F filing.
• Lam Research reported a 33.6% increase in quarterly revenue year-over-year, achieving $5.17 billion and an earnings per share (EPS) of $1.33, surpassing estimates.
• The company has a consensus rating of "Moderate Buy" from analysts, with an average price target of $107.09, reflecting strong confidence in its future performance.

True North Advisors LLC acquired a new position in Lam Research Corporation (NASDAQ:LRCX - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 34,664 shares of the semiconductor company's stock, valued at approximately $2,520,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC acquired a new position in shares of Lam Research in the first quarter worth approximately $26,000. West Paces Advisors Inc. acquired a new position in shares of Lam Research in the fourth quarter worth approximately $27,000. Mpwm Advisory Solutions LLC acquired a new position in Lam Research in the fourth quarter valued at approximately $27,000. Park Square Financial Group LLC acquired a new position in Lam Research in the fourth quarter valued at approximately $31,000. Finally, Putney Financial Group LLC acquired a new position in Lam Research in the fourth quarter valued at approximately $36,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on LRCX shares. Oppenheimer boosted their price target on Lam Research from $110.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. Mizuho boosted their price target on Lam Research from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Morgan Stanley boosted their price target on Lam Research from $87.00 to $94.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Finally, TD Securities dropped their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.09.

Lam Research Stock Up 2.6%

Lam Research stock traded up $2.60 during trading on Friday, hitting $101.75. 8,761,658 shares of the company were exchanged, compared to its average volume of 11,458,919. The business's 50 day moving average is $95.53 and its 200 day moving average is $83.02. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $102.59. The company has a market capitalization of $130.15 billion, a P/E ratio of 24.46, a PEG ratio of 1.32 and a beta of 1.65. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. Lam Research's revenue was up 33.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. Analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio is 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.