Wealthspire Advisors LLC boosted its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 100.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,788 shares of the semiconductor company's stock after purchasing an additional 17,443 shares during the quarter. Wealthspire Advisors LLC's holdings in Lam Research were worth $2,529,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the stock. Smallwood Wealth Investment Management LLC bought a new position in shares of Lam Research in the first quarter valued at approximately $26,000. West Paces Advisors Inc. bought a new position in Lam Research in the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of Lam Research in the fourth quarter worth $27,000. Park Square Financial Group LLC purchased a new stake in shares of Lam Research in the fourth quarter worth $31,000. Finally, Putney Financial Group LLC bought a new stake in Lam Research during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 84.61% of the company's stock.
Analysts Set New Price Targets
LRCX has been the topic of several recent analyst reports. TD Cowen raised their price target on Lam Research from $100.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, July 31st. The Goldman Sachs Group initiated coverage on shares of Lam Research in a research report on Thursday, July 10th. They set a "buy" rating and a $115.00 target price for the company. Citigroup increased their price target on shares of Lam Research from $108.00 to $113.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Barclays set a $83.00 price objective on shares of Lam Research and gave the company an "equal weight" rating in a research report on Monday, July 28th. Finally, KeyCorp upped their target price on shares of Lam Research from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $107.09.
Get Our Latest Stock Analysis on Lam Research
Lam Research Stock Down 0.8%
Shares of NASDAQ:LRCX opened at $95.94 on Thursday. The stock's 50-day moving average is $94.80 and its 200 day moving average is $82.76. The company has a market cap of $122.72 billion, a PE ratio of 23.06, a P/E/G ratio of 1.27 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $102.59.
Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The business's quarterly revenue was up 33.6% compared to the same quarter last year. During the same period last year, the company earned $1.03 EPS. Sell-side analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current year.
Lam Research Dividend Announcement
The business also recently announced 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 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is currently 22.12%.
Lam Research 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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