Raymond James & Associates Purchases 7,594 Shares of Lam Research Co. (NASDAQ:LRCX)

Raymond James & Associates grew its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,915 shares of the semiconductor company's stock after acquiring an additional 7,594 shares during the quarter. Raymond James & Associates owned about 0.10% of Lam Research worth $122,335,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Lam Research in the 4th quarter worth approximately $1,414,111,000. International Assets Investment Management LLC boosted its position in Lam Research by 76,165.7% in the 4th quarter. International Assets Investment Management LLC now owns 318,028 shares of the semiconductor company's stock worth $249,099,000 after purchasing an additional 317,611 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Lam Research by 1,125.6% during the 4th quarter. Cerity Partners LLC now owns 342,139 shares of the semiconductor company's stock valued at $267,984,000 after buying an additional 314,224 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Lam Research by 10.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,642,367 shares of the semiconductor company's stock valued at $1,029,386,000 after buying an additional 159,815 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Lam Research by 106.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 301,071 shares of the semiconductor company's stock valued at $188,702,000 after buying an additional 155,240 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on LRCX. Deutsche Bank Aktiengesellschaft began coverage on Lam Research in a research note on Thursday, April 11th. They issued a "hold" rating and a $1,000.00 price objective for the company. Evercore ISI began coverage on Lam Research in a research note on Tuesday, April 16th. They issued an "outperform" rating and a $1,200.00 price objective for the company. TD Cowen raised their target price on Lam Research from $975.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Thursday, April 25th. Wells Fargo & Company raised their target price on Lam Research from $930.00 to $980.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 2nd. Finally, B. Riley raised Lam Research from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $870.00 to $1,100.00 in a research report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $950.85.

Lam Research Stock Performance

Shares of LRCX traded down $26.31 during mid-day trading on Wednesday, hitting $868.10. The stock had a trading volume of 1,187,387 shares, compared to its average volume of 1,073,616. The company has a market cap of $113.81 billion, a PE ratio of 31.93, a PEG ratio of 2.88 and a beta of 1.51. The company's fifty day simple moving average is $942.92 and its two-hundred day simple moving average is $815.57. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. Lam Research Co. has a fifty-two week low of $507.19 and a fifty-two week high of $1,007.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating the consensus estimate of $7.26 by $0.53. Lam Research had a return on equity of 45.96% and a net margin of 25.35%. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the business earned $6.99 EPS. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities analysts expect that Lam Research Co. will post 29.62 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a $2.00 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a yield of 0.92%. Lam Research's dividend payout ratio (DPR) is currently 29.42%.

Insiders Place Their Bets

In related news, Director Abhijit Y. Talwalkar sold 882 shares of the business's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $857,330.46. Following the completion of the transaction, the director now owns 10,541 shares of the company's stock, valued at approximately $10,246,168.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, the senior vice president now owns 22,095 shares of the company's stock, valued at approximately $20,380,648.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the firm's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $857,330.46. Following the sale, the director now directly owns 10,541 shares in the company, valued at approximately $10,246,168.23. The disclosure for this sale can be found here. Insiders sold 7,089 shares of company stock valued at $6,614,781 over the last quarter. Insiders own 0.32% of the company's stock.

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.

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.