Turtle Creek Wealth Advisors LLC Purchases 9,251 Shares of Lam Research Corporation (NASDAQ:LRCX)

Turtle Creek Wealth Advisors LLC boosted its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 12.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 82,345 shares of the semiconductor company's stock after purchasing an additional 9,251 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in Lam Research were worth $5,986,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Citizens National Bank Trust Department raised its holdings in Lam Research by 34.0% in the 1st quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 153 shares during the period. SteelPeak Wealth LLC raised its holdings in Lam Research by 0.4% in the 1st quarter. SteelPeak Wealth LLC now owns 42,064 shares of the semiconductor company's stock valued at $3,068,000 after acquiring an additional 178 shares during the period. Transcend Capital Advisors LLC raised its holdings in Lam Research by 2.3% in the 1st quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock valued at $586,000 after acquiring an additional 182 shares during the period. Capital Advisors Inc. OK raised its holdings in Lam Research by 0.6% in the 1st quarter. Capital Advisors Inc. OK now owns 29,927 shares of the semiconductor company's stock valued at $2,176,000 after acquiring an additional 183 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC raised its holdings in Lam Research by 33.3% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 800 shares of the semiconductor company's stock valued at $58,000 after acquiring an additional 200 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LRCX has been the topic of several research analyst reports. Stifel Nicolaus lowered their price target on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Evercore ISI raised their target price on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Oppenheimer reaffirmed an "outperform" rating and set a $110.00 target price (up from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $115.00 target price (up from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. Finally, Barclays lowered their target price on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $99.14.

Lam Research Price Performance

Lam Research stock traded up $1.45 during mid-day trading on Tuesday, reaching $101.07. The company had a trading volume of 9,180,295 shares, compared to its average volume of 12,351,862. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $108.23. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The company has a market cap of $129.28 billion, a P/E ratio of 28.17, a P/E/G ratio of 1.41 and a beta of 1.68. The business has a fifty day simple moving average of $89.02 and a 200 day simple moving average of $80.14.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business posted $7.79 earnings per share. The company's quarterly revenue was up 24.4% on a year-over-year basis. On average, equities research 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 declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.91%. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Lam Research 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.