Venturi Wealth Management LLC Grows Stake in Lam Research Corporation (NASDAQ:LRCX)

Venturi Wealth Management LLC lifted its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 15.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 19,157 shares of the semiconductor company's stock after acquiring an additional 2,632 shares during the period. Venturi Wealth Management LLC's holdings in Lam Research were worth $1,393,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Huntington National Bank lifted its stake in Lam Research by 944.0% during the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock valued at $21,291,000 after buying an additional 266,527 shares in the last quarter. Cerity Partners LLC lifted its stake in Lam Research by 781.9% during the fourth quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock valued at $23,920,000 after buying an additional 293,619 shares in the last quarter. Pinnacle Financial Partners Inc purchased a new stake in Lam Research during the first quarter valued at about $201,000. B. Riley Wealth Advisors Inc. purchased a new stake in Lam Research during the fourth quarter valued at about $6,296,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Lam Research by 27.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock worth $3,607,000 after purchasing an additional 10,565 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LRCX. Needham & Company LLC reduced their price target on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Stifel Nicolaus reduced their target price on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the stock a "hold" rating in a research report on Thursday, April 24th. UBS Group boosted their target price on shares of Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a research report on Monday. Finally, TD Securities decreased their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lam Research has an average rating of "Moderate Buy" and a consensus price target of $100.57.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded up $0.68 during midday trading on Thursday, hitting $97.78. The company had a trading volume of 9,043,742 shares, compared to its average volume of 8,988,422. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $102.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The stock has a market cap of $125.07 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.37 and a beta of 1.68. The business's 50-day simple moving average is $92.24 and its 200-day simple moving average is $81.49.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. Lam Research's revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the previous year, the firm posted $7.79 EPS. On average, research analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is 25.63%.

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.