Wealthfront Advisers LLC Purchases 8,631 Shares of Lam Research Corporation (NASDAQ:LRCX)

Wealthfront Advisers LLC raised its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 6.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,391 shares of the semiconductor company's stock after buying an additional 8,631 shares during the period. Wealthfront Advisers LLC's holdings in Lam Research were worth $10,061,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after purchasing an additional 108,619,564 shares during the last quarter. FMR LLC raised its holdings in shares of Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Lam Research by 950.5% in the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Lam Research in the fourth quarter valued at about $1,661,672,000. 84.61% of the stock is owned by institutional investors.

Lam Research Price Performance

NASDAQ:LRCX traded up $0.23 during mid-day trading on Friday, hitting $101.02. 2,892,606 shares of the stock traded hands, compared to its average volume of 12,305,619. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $102.19. The company has a market cap of $129.22 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 1.42 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. The business's 50-day moving average price is $90.60 and its 200 day moving average price is $80.62.

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

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.91%. Lam Research's payout ratio is 25.63%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LRCX. TD Securities lowered their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Bank of America lowered their target price 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. Argus raised shares of Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Evercore ISI lifted their price objective on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, B. Riley reaffirmed a "buy" rating and issued a $115.00 price objective (up previously from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and an average target price of $99.14.

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.