Westmount Partners LLC Takes Position in Lam Research Corporation (NASDAQ:LRCX)

Westmount Partners LLC bought a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,095 shares of the semiconductor company's stock, valued at approximately $225,000.

A number of other hedge funds have also bought and sold shares of LRCX. Citizens National Bank Trust Department lifted its stake in shares of Lam Research by 34.0% in the 1st quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 153 shares during the period. SteelPeak Wealth LLC increased its holdings in Lam Research by 0.4% in the first quarter. SteelPeak Wealth LLC now owns 42,064 shares of the semiconductor company's stock worth $3,068,000 after purchasing an additional 178 shares in the last quarter. Transcend Capital Advisors LLC lifted its stake in Lam Research by 2.3% in the first quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock valued at $586,000 after buying an additional 182 shares during the period. Capital Advisors Inc. OK boosted its holdings in shares of Lam Research by 0.6% during the 1st quarter. Capital Advisors Inc. OK now owns 29,927 shares of the semiconductor company's stock worth $2,176,000 after buying an additional 183 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Lam Research by 33.3% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 800 shares of the semiconductor company's stock worth $58,000 after buying an additional 200 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LRCX. UBS Group lowered their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Stifel Nicolaus decreased their price target 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 price objective on shares of Lam Research and gave the stock a "hold" rating in a research report on Thursday, April 24th. Wells Fargo & Company boosted their target price on Lam Research from $75.00 to $95.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Evercore ISI increased their price target on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $97.48.

Lam Research Stock Performance

NASDAQ LRCX opened at $101.73 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The company has a market capitalization of $130.12 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of 1.44 and a beta of 1.68. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $108.23. The company has a 50-day simple moving average of $88.50 and a 200 day simple moving average of $79.96.

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

Lam Research Dividend Announcement

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 $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.90%. Lam Research's payout ratio 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.

Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Corporation (NASDAQ:LRCX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.