Trust Co. of Toledo NA OH bought a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,740 shares of the semiconductor company's stock, valued at approximately $1,508,000.
Other institutional investors also recently bought and sold shares of the company. Optas LLC raised its position in Lam Research by 24.1% in the first quarter. Optas LLC now owns 7,439 shares of the semiconductor company's stock worth $541,000 after acquiring an additional 1,447 shares during the period. Asio Capital LLC purchased a new stake in shares of Lam Research in the 1st quarter worth $2,179,000. Brighton Jones LLC raised its holdings in Lam Research by 4.4% in the 1st quarter. Brighton Jones LLC now owns 14,811 shares of the semiconductor company's stock worth $1,077,000 after purchasing an additional 622 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in Lam Research by 363.5% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 203,259 shares of the semiconductor company's stock worth $14,777,000 after purchasing an additional 159,409 shares during the period. Finally, Foster Victor Wealth Advisors LLC lifted its position in Lam Research by 6.0% during the first quarter. Foster Victor Wealth Advisors LLC now owns 259,569 shares of the semiconductor company's stock valued at $17,516,000 after purchasing an additional 14,678 shares in the last quarter. Institutional investors own 84.61% of the company's stock.
Lam Research Price Performance
Shares of LRCX stock traded down $2.14 during trading hours on Friday, hitting $89.52. The stock had a trading volume of 10,977,636 shares, compared to its average volume of 12,305,432. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The stock has a market capitalization of $114.51 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.47 and a beta of 1.65. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00. The stock's 50-day moving average price is $77.13 and its two-hundred day moving average price is $77.01.
Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company's revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.79 EPS. Equities analysts forecast that Lam Research Co. will post 3.71 EPS for the current 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 paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's payout ratio is 25.63%.
Analysts Set New Price Targets
A number of analysts have commented on the company. B. Riley restated a "buy" rating on shares of Lam Research in a research report on Thursday, April 24th. Wells Fargo & Company reduced their target price on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and raised their target price for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Bank of America dropped their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Finally, Stifel Nicolaus decreased their price objective on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $90.87.
View Our Latest Analysis on LRCX
About Lam Research
(
Free Report)
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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