Portside Wealth Group LLC Buys New Holdings in Lam Research Co. (NASDAQ:LRCX)

Portside Wealth Group LLC bought a new stake in Lam Research Co. (NASDAQ:LRCX) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,921 shares of the semiconductor company’s stock, valued at approximately $285,000.

Other large investors have also recently bought and sold shares of the company. Financial Perspectives Inc boosted its position in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. Fairway Wealth LLC lifted its holdings in Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 306 shares during the period. Midwest Capital Advisors LLC acquired a new position in Lam Research in the fourth quarter valued at approximately $27,000. West Paces Advisors Inc. acquired a new position in Lam Research in the fourth quarter valued at approximately $27,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Lam Research in the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 target price on shares of Lam Research in a research note on Thursday, April 24th. Argus raised Lam Research to a “strong-buy” rating in a research note on Friday, April 25th. Barclays reduced their target price on Lam Research from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Bank of America reduced their target price on Lam Research from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Finally, Wells Fargo & Company reduced their target price on Lam Research from $85.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.87.

Lam Research Stock Performance

LRCX stock opened at $91.00 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a market capitalization of $116.40 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 1.47 and a beta of 1.65. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The stock’s fifty day moving average is $75.32 and its two-hundred day moving average is $76.63.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. The company 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 firm’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period last year, the business posted $7.79 earnings per share. On average, research analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Wednesday, June 18th. Lam Research’s dividend payout ratio (DPR) 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.