UMB Bank n.a. bought a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,916 shares of the semiconductor company's stock, valued at approximately $357,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wedmont Private Capital raised its holdings in shares of Lam Research by 15.8% in the 1st quarter. Wedmont Private Capital now owns 17,362 shares of the semiconductor company's stock worth $1,172,000 after purchasing an additional 2,367 shares during the period. Orrstown Financial Services Inc. increased its position in shares of Lam Research by 41.3% in the first quarter. Orrstown Financial Services Inc. now owns 11,279 shares of the semiconductor company's stock worth $820,000 after purchasing an additional 3,298 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Lam Research by 23.8% during the 1st quarter. Sivia Capital Partners LLC now owns 3,692 shares of the semiconductor company's stock worth $268,000 after acquiring an additional 710 shares during the last quarter. Persium Advisors LLC bought a new stake in Lam Research during the first quarter worth about $466,000. Finally, Princeton Global Asset Management LLC boosted its stake in Lam Research by 8.7% in the first quarter. Princeton Global Asset Management LLC now owns 33,823 shares of the semiconductor company's stock worth $2,459,000 after buying an additional 2,702 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on LRCX. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. Barclays reduced their target price on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Argus raised shares of Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Jefferies Financial Group increased their target price on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Finally, B. Riley reiterated a "buy" rating on shares of Lam Research 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 company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.87.
Check Out Our Latest Analysis on Lam Research
Lam Research Price Performance
NASDAQ:LRCX traded up $0.71 during trading hours on Thursday, hitting $91.66. 5,986,149 shares of the stock traded hands, compared to its average volume of 12,275,437. The company has a market cap of $117.24 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The stock has a 50 day moving average price of $76.55 and a 200 day moving average price of $76.85. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.
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, topping the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Lam Research's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.79 EPS. Sell-side analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.
Lam Research Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's payout ratio is currently 25.63%.
Lam Research Company Profile
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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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