Valliance Asset Management Ltd Takes Position in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Valliance Asset Management Ltd acquired 50,000 shares of Lam Research, representing a stake valued at approximately $3.63 million, making it the firm's second-largest holding.
• Institutional investors collectively own 84.61% of Lam Research's stock, with notable increases in stakes from Huntington National Bank and Cerity Partners LLC.
• Lam Research's recent quarterly dividend of $0.23 per share reflects an annualized yield of 0.93%, with a payout ratio of 25.63%.

Valliance Asset Management Ltd acquired a new stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 50,000 shares of the semiconductor company's stock, valued at approximately $3,635,000. Lam Research makes up about 8.2% of Valliance Asset Management Ltd's holdings, making the stock its 2nd biggest position.

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

Lam Research Trading Up 0.2%

NASDAQ:LRCX traded up $0.15 during trading hours on Wednesday, reaching $99.09. 12,275,994 shares of the stock were exchanged, compared to its average volume of 11,883,867. The company has a market capitalization of $126.75 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 1.39 and a beta of 1.68. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $102.59. The business has a 50-day moving average of $93.08 and a two-hundred day moving average of $81.97.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.13. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. During the same period in the prior year, the company earned $1.03 earnings per share. The business's revenue was up 33.6% compared to the same quarter last year. On average, equities analysts predict that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio is currently 25.63%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LRCX. Needham & Company LLC cut their price target on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Bank of America decreased their price objective on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Morgan Stanley raised their price target on shares of Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $115.00 price objective (up from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. Finally, Wells Fargo & Company boosted their price target on shares of Lam Research from $75.00 to $95.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and an average price target of $102.05.

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.