XTX Topco Ltd Acquires 3,116 Shares of Lam Research Corporation (NASDAQ:LRCX)

Key Points

• XTX Topco Ltd increased its stake in Lam Research Corporation by 26.0%, acquiring an additional 3,116 shares, bringing its total holdings to 15,078 shares worth approximately $1,096,000.
• Lam Research reported a strong quarterly earnings performance, with earnings per share of $1.33, exceeding analyst estimates and showing a 33.6% increase in revenue year-over-year.
• A number of research analysts have recently updated their ratings for Lam Research, with upgrades including a new price target range of $105.00 to $120.00, indicating a positive outlook for the stock.

XTX Topco Ltd grew its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 26.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,078 shares of the semiconductor company's stock after buying an additional 3,116 shares during the quarter. XTX Topco Ltd's holdings in Lam Research were worth $1,096,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LRCX. Banque Cantonale Vaudoise purchased a new position in Lam Research in the 1st quarter worth approximately $4,132,000. Valliance Asset Management Ltd bought a new position in shares of Lam Research in the first quarter worth approximately $3,635,000. Federated Hermes Inc. increased its stake in shares of Lam Research by 11.8% in the first quarter. Federated Hermes Inc. now owns 590,850 shares of the semiconductor company's stock worth $42,955,000 after buying an additional 62,330 shares during the period. Cozad Asset Management Inc. raised its holdings in Lam Research by 4.6% during the 1st quarter. Cozad Asset Management Inc. now owns 161,140 shares of the semiconductor company's stock valued at $11,715,000 after buying an additional 7,130 shares during the last quarter. Finally, Meeder Advisory Services Inc. boosted its position in Lam Research by 12.3% during the 1st quarter. Meeder Advisory Services Inc. now owns 35,180 shares of the semiconductor company's stock valued at $2,558,000 after buying an additional 3,849 shares during the period. 84.61% of the stock is owned by institutional investors.

Lam Research Trading Up 1.6%

Shares of LRCX opened at $96.37 on Friday. The company has a current ratio of 2.21, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $102.59. The company has a market cap of $123.27 billion, a P/E ratio of 23.17, a P/E/G ratio of 1.33 and a beta of 1.68. The company's fifty day simple moving average is $93.96 and its 200-day simple moving average is $82.38.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results 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 business 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 revenue was up 33.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share. As a group, analysts expect 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. Shareholders of record on Wednesday, June 18th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.0%. Lam Research's dividend payout ratio is currently 22.12%.

Analysts Set New Price Targets

A number of research firms have issued reports on LRCX. Wall Street Zen upgraded shares of Lam Research from a "hold" rating to a "buy" rating in a research report on Saturday. Summit Insights downgraded Lam Research from a "buy" rating to a "hold" rating in a report on Thursday. Argus upped their price target on Lam Research from $105.00 to $120.00 and gave the company a "buy" rating in a research report on Friday. The Goldman Sachs Group started coverage on Lam Research in a research report on Thursday, July 10th. They issued a "buy" rating and a $115.00 price objective on the stock. Finally, UBS Group boosted their target price on Lam Research from $95.00 to $120.00 and gave the company a "buy" rating in a research note on Monday, July 21st. 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, Lam Research has a consensus rating of "Moderate Buy" and an average target price of $107.09.

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.

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