Yarbrough Capital LLC Increases Position in Lam Research Co. (NASDAQ:LRCX)

Yarbrough Capital LLC increased its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 104.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,732 shares of the semiconductor company's stock after purchasing an additional 13,161 shares during the period. Yarbrough Capital LLC's holdings in Lam Research were worth $1,871,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LRCX. Vanguard Group Inc. raised its holdings in Lam Research by 892.7% during 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 acquiring an additional 108,619,564 shares during the period. FMR LLC grew its position in shares of Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares during the period. Geode Capital Management LLC lifted its holdings in Lam Research by 907.1% in the 4th 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 in the last quarter. Finally, Norges Bank bought a new position in Lam Research in the 4th quarter worth approximately $1,661,672,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Mizuho boosted their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. UBS Group dropped their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a report on Monday, April 14th. Oppenheimer reduced their target price on Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Finally, Evercore ISI increased their price target on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $90.87.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $86.35 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00. The company has a market capitalization of $110.45 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 1.47 and a beta of 1.65. The firm's 50-day moving average is $74.51 and its 200 day moving average is $76.40.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company's quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.79 earnings per share. Research analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.07%. Lam Research's dividend 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.

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