Raymond James Financial Services Advisors Inc. Raises Stake in Lam Research Co. (NASDAQ:LRCX)

Raymond James Financial Services Advisors Inc. grew its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 20.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,857 shares of the semiconductor company's stock after purchasing an additional 6,701 shares during the quarter. Raymond James Financial Services Advisors Inc.'s holdings in Lam Research were worth $37,752,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LRCX. Valeo Financial Advisors LLC raised its holdings in shares of Lam Research by 10.4% during the third quarter. Valeo Financial Advisors LLC now owns 986 shares of the semiconductor company's stock valued at $618,000 after acquiring an additional 93 shares in the last quarter. Avestar Capital LLC bought a new position in shares of Lam Research during the third quarter valued at approximately $205,000. Palouse Capital Management Inc. raised its holdings in Lam Research by 1.0% in the third quarter. Palouse Capital Management Inc. now owns 2,923 shares of the semiconductor company's stock worth $1,832,000 after purchasing an additional 28 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new position in Lam Research in the third quarter worth $253,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Lam Research by 58.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 73,455 shares of the semiconductor company's stock worth $46,039,000 after purchasing an additional 27,013 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Stock Performance

NASDAQ:LRCX traded up $15.58 on Thursday, hitting $883.68. The stock had a trading volume of 724,220 shares, compared to its average volume of 1,069,516. The stock has a market cap of $115.85 billion, a price-to-earnings ratio of 32.50, a price-to-earnings-growth ratio of 2.78 and a beta of 1.51. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The business's 50-day simple moving average is $941.71 and its two-hundred day simple moving average is $816.04. Lam Research Co. has a 52-week low of $507.19 and a 52-week high of $1,007.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $3.72 billion. During the same period in the previous year, the firm earned $6.99 EPS. The business's quarterly revenue was down 2.0% on a year-over-year basis. As a group, research analysts predict that Lam Research Co. will post 29.62 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $2.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.91%. Lam Research's payout ratio is currently 29.42%.

Insider Activity at Lam Research

In related news, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the sale, the senior vice president now owns 22,095 shares of the company's stock, valued at approximately $20,380,648.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Christina Corrreia sold 647 shares of Lam Research stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $972.03, for a total transaction of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares of the company's stock, valued at approximately $5,386,018.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 22,095 shares in the company, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,089 shares of company stock valued at $6,614,781. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LRCX shares. Cantor Fitzgerald reiterated a "neutral" rating and issued a $1,100.00 price objective on shares of Lam Research in a report on Thursday, April 25th. StockNews.com upgraded Lam Research from a "hold" rating to a "buy" rating in a report on Friday, April 26th. Needham & Company LLC reiterated a "buy" rating and issued a $1,030.00 price objective on shares of Lam Research in a report on Thursday, April 25th. The Goldman Sachs Group increased their price objective on Lam Research from $700.00 to $912.00 and gave the stock a "buy" rating in a report on Thursday, January 25th. Finally, Mizuho raised their price target on Lam Research from $935.00 to $960.00 and gave the company a "buy" rating in a report on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, Lam Research has a consensus rating of "Moderate Buy" and a consensus price target of $950.85.

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.

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