Wealthcare Advisory Partners LLC Acquires New Position in Lam Research Co. (NASDAQ:LRCX)

Wealthcare Advisory Partners LLC acquired a new stake in Lam Research Co. (NASDAQ:LRCX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 54,652 shares of the semiconductor company's stock, valued at approximately $3,973,000.

A number of other institutional investors have also recently bought and sold shares of the business. Parisi Gray Wealth Management grew its stake in Lam Research by 9.7% in the 1st quarter. Parisi Gray Wealth Management now owns 9,164 shares of the semiconductor company's stock valued at $666,000 after purchasing an additional 814 shares during the period. Tounjian Advisory Partners LLC bought a new position in Lam Research in the 1st quarter valued at $876,000. Pallas Capital Advisors LLC bought a new position in Lam Research in the 1st quarter valued at $504,000. Cetera Trust Company N.A bought a new position in Lam Research in the 1st quarter valued at $2,981,000. Finally, Farther Finance Advisors LLC grew its stake in Lam Research by 47.3% in the 1st quarter. Farther Finance Advisors LLC now owns 21,765 shares of the semiconductor company's stock valued at $1,585,000 after purchasing an additional 6,992 shares during the period. Institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LRCX shares. Wells Fargo & Company reduced their price objective on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus cut their price target on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Bank of America cut their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Evercore ISI increased their price target on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, UBS Group cut their price target on Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $90.87.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded down $2.14 on Friday, hitting $89.52. The company's stock had a trading volume of 10,977,636 shares, compared to its average volume of 12,305,432. The company has a 50-day simple moving average of $77.13 and a 200 day simple moving average of $76.97. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The company has a market capitalization of $114.51 billion, a PE ratio of 27.19, a PEG ratio of 1.47 and a beta of 1.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter last year, the firm posted $7.79 EPS. The company's revenue was up 24.4% compared to the same quarter last year. Sell-side analysts forecast that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.03%. Lam Research's dividend payout ratio is 25.63%.

About Lam Research

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.