Xponance Inc. Buys 24,055 Shares of Lam Research Corporation (NASDAQ:LRCX)

Xponance Inc. grew its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 7.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 347,027 shares of the semiconductor company's stock after purchasing an additional 24,055 shares during the quarter. Xponance Inc.'s holdings in Lam Research were worth $25,229,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 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 boosted its position 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 acquiring an additional 36,496,689 shares during the period. Ameriprise Financial Inc. boosted its position 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 acquiring an additional 31,255,726 shares during the period. Geode Capital Management LLC lifted its position in Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock worth $2,265,610,000 after purchasing an additional 28,307,499 shares during the period. Finally, Norges Bank bought a new stake in Lam Research during the fourth quarter worth about $1,661,672,000. Institutional investors own 84.61% of the company's stock.

Lam Research Price Performance

NASDAQ:LRCX traded up $0.67 during mid-day trading on Friday, reaching $101.73. The stock had a trading volume of 6,202,556 shares, compared to its average volume of 12,332,847. The firm has a 50 day moving average price of $87.96 and a two-hundred day moving average price of $79.68. The stock has a market capitalization of $130.12 billion, a P/E ratio of 28.35, a P/E/G ratio of 1.43 and a beta of 1.68. Lam Research Corporation has a one year low of $56.32 and a one year high of $109.34. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data 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 53.21% and a net margin of 27.18%. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the company posted $7.79 earnings per share. The business's revenue was up 24.4% on a year-over-year basis. As a group, analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were given a $0.23 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.90%. Lam Research's payout ratio is currently 25.63%.

Analyst Ratings Changes

LRCX has been the subject of a number of research reports. Citigroup reissued a "buy" rating and issued a $108.00 target price (up previously from $87.00) on shares of Lam Research in a report on Monday. The Goldman Sachs Group started coverage on Lam Research in a report on Thursday. They set a "buy" rating and a $115.00 price target on the stock. Morgan Stanley increased their target price on Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Oppenheimer restated an "outperform" rating and set a $110.00 price objective (up from $80.00) on shares of Lam Research in a research note on Tuesday, June 17th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $115.00 target price (up from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $97.48.

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.