West Michigan Advisors LLC Acquires New Shares in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• West Michigan Advisors LLC has acquired a new stake in Lam Research Corporation, purchasing 3,725 shares valued at approximately $272,000.
• Lam Research reported a significant 33.6% year-over-year increase in quarterly revenue to $5.17 billion, exceeding analysts' expectations.
• The company recently announced a quarterly dividend of $0.23, representing a 1.0% dividend yield, and has a reported dividend payout ratio of 22.12%.

West Michigan Advisors LLC purchased a new stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,725 shares of the semiconductor company's stock, valued at approximately $272,000.

Several other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in shares of Lam Research by 1,032.4% in the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after purchasing an additional 12,936 shares during the last quarter. World Investment Advisors raised its position in shares of Lam Research by 2,039.5% in the 4th quarter. World Investment Advisors now owns 5,798 shares of the semiconductor company's stock valued at $419,000 after acquiring an additional 5,527 shares during the period. Arete Wealth Advisors LLC acquired a new position in Lam Research during the fourth quarter valued at approximately $230,000. Peapack Gladstone Financial Corp raised its holdings in Lam Research by 371.7% in the fourth quarter. Peapack Gladstone Financial Corp now owns 8,594 shares of the semiconductor company's stock worth $621,000 after purchasing an additional 6,772 shares during the period. Finally, Federated Hermes Inc. raised its holdings in Lam Research by 1,170.7% in the fourth quarter. Federated Hermes Inc. now owns 528,520 shares of the semiconductor company's stock worth $38,175,000 after purchasing an additional 486,927 shares during the period. Institutional investors own 84.61% of the company's stock.

Lam Research Stock Performance

NASDAQ LRCX traded down $0.74 on Wednesday, reaching $95.94. The stock had a trading volume of 10,616,047 shares, compared to its average volume of 11,143,481. The firm has a fifty day moving average of $94.56 and a two-hundred day moving average of $82.67. The company has a market cap of $122.72 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 1.27 and a beta of 1.65. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $102.59. 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 (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. The company had revenue of $5.17 billion for the quarter, compared to analysts' expectations of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The business's revenue for the quarter was up 33.6% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. On average, equities research analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 1.0%. Lam Research's dividend payout ratio is currently 22.12%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LRCX shares. The Goldman Sachs Group started coverage on Lam Research in a report on Thursday, July 10th. They set a "buy" rating and a $115.00 target price on the stock. B. Riley reaffirmed a "buy" rating and set a $115.00 price target (up previously from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Bank of America decreased their price objective on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. KeyCorp upped their price objective on Lam Research from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Citigroup lifted their target price on Lam Research from $108.00 to $113.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Seven investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $107.09.

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.