EverSource Wealth Advisors LLC Purchases 75 Shares of Lam Research Co. (NASDAQ:LRCX)

EverSource Wealth Advisors LLC raised its position in shares of Lam Research Co. (NASDAQ:LRCXGet Rating) by 93.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 155 shares of the semiconductor company’s stock after acquiring an additional 75 shares during the period. EverSource Wealth Advisors LLC’s holdings in Lam Research were worth $83,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Castellan Group boosted its stake in shares of Lam Research by 222.6% during the first quarter. Castellan Group now owns 5,387 shares of the semiconductor company’s stock valued at $2,896,000 after purchasing an additional 3,717 shares during the period. Verity Asset Management Inc. boosted its stake in shares of Lam Research by 3.9% during the first quarter. Verity Asset Management Inc. now owns 778 shares of the semiconductor company’s stock valued at $419,000 after purchasing an additional 29 shares during the period. Resources Management Corp CT ADV boosted its stake in shares of Lam Research by 0.8% during the first quarter. Resources Management Corp CT ADV now owns 2,888 shares of the semiconductor company’s stock valued at $1,553,000 after purchasing an additional 23 shares during the period. Toroso Investments LLC boosted its stake in shares of Lam Research by 16.1% during the first quarter. Toroso Investments LLC now owns 4,134 shares of the semiconductor company’s stock valued at $2,222,000 after purchasing an additional 573 shares during the period. Finally, Strategic Wealth Partners Ltd. boosted its stake in shares of Lam Research by 20.7% during the first quarter. Strategic Wealth Partners Ltd. now owns 6,994 shares of the semiconductor company’s stock valued at $3,760,000 after purchasing an additional 1,201 shares during the period. Institutional investors own 80.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Lam Research from $720.00 to $700.00 in a research note on Thursday, July 28th. The Goldman Sachs Group upped their price objective on shares of Lam Research from $448.00 to $504.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. UBS Group upped their price objective on shares of Lam Research from $510.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lam Research from $560.00 to $480.00 in a research note on Monday, July 18th. Finally, Morgan Stanley lowered their price objective on shares of Lam Research from $550.00 to $543.00 and set an “overweight” rating for the company in a research note on Tuesday, September 6th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $610.30.

Lam Research Stock Performance

LRCX opened at $409.22 on Friday. Lam Research Co. has a 52-week low of $375.87 and a 52-week high of $731.85. The company has a quick ratio of 1.82, a current ratio of 2.69 and a debt-to-equity ratio of 0.80. The company has a market cap of $56.06 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 0.94 and a beta of 1.36. The firm’s 50-day moving average price is $461.43 and its 200-day moving average price is $475.81.

Lam Research (NASDAQ:LRCXGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share for the quarter, topping the consensus estimate of $7.30 by $1.53. Lam Research had a net margin of 26.73% and a return on equity of 75.71%. The company had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the company earned $8.09 EPS. Lam Research’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, equities analysts anticipate that Lam Research Co. will post 37.31 EPS for the current fiscal year.

Lam Research Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th will be issued a $1.725 dividend. This represents a $6.90 annualized dividend and a yield of 1.69%. The ex-dividend date is Tuesday, September 13th. This is an increase from Lam Research’s previous quarterly dividend of $1.50. Lam Research’s dividend payout ratio is 21.07%.

Lam Research Profile

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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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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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