Foundations Investment Advisors LLC bought a new position in shares of Lam Research Co. (NASDAQ:LRCX – Get Rating) during the 2nd quarter, HoldingsChannel reports. The fund bought 532 shares of the semiconductor company’s stock, valued at approximately $208,000.
Several other institutional investors and hedge funds have also made changes to their positions in LRCX. Vectors Research Management LLC boosted its holdings in shares of Lam Research by 133.3% during the 4th quarter. Vectors Research Management LLC now owns 35 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 20 shares during the last quarter. Stonebridge Capital Advisors LLC raised its position in shares of Lam Research by 100.0% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 19 shares during the period. Capital Advisory Group Advisory Services LLC purchased a new stake in shares of Lam Research during the 1st quarter valued at approximately $27,000. OLD Second National Bank of Aurora purchased a new stake in shares of Lam Research during the 1st quarter valued at approximately $27,000. Finally, Delos Wealth Advisors LLC purchased a new stake in shares of Lam Research during the 4th quarter valued at approximately $30,000. 80.09% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently commented on LRCX shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lam Research from $560.00 to $480.00 in a research report on Monday, July 18th. UBS Group boosted their target price on Lam Research from $510.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, September 2nd. DA Davidson cut their target price on Lam Research from $575.00 to $550.00 in a research report on Thursday, July 28th. Finally, Piper Sandler cut their target price on Lam Research from $596.00 to $567.00 and set a “neutral” rating on the stock in a research report on Thursday, May 26th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $610.30.
Lam Research Stock Performance
Lam Research (NASDAQ:LRCX – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the prior year, the firm posted $8.09 earnings per share. Lam Research’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, analysts expect that Lam Research Co. will post 37.31 earnings per share for the current year.
Lam Research Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th will be paid 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 currently 21.07%.
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.
- Get a free copy of the StockNews.com research report on Lam Research (LRCX)
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