Elevation Point Wealth Partners LLC Has $3.39 Million Holdings in Lam Research Co. (NASDAQ:LRCX)

Elevation Point Wealth Partners LLC lessened its position in shares of Lam Research Co. (NASDAQ:LRCX) by 5.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,621 shares of the semiconductor company’s stock after selling 2,941 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Lam Research were worth $3,389,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock valued at $8,724,498,000 after purchasing an additional 108,619,564 shares in the last quarter. FMR LLC increased its stake in Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Lam Research by 950.5% in the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC increased its stake in Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Finally, Norges Bank bought a new stake in Lam Research in the fourth quarter valued at $1,661,672,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Down 2.3%

Lam Research stock opened at $89.52 on Friday. 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 cap of $114.51 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The firm’s 50-day simple moving average is $77.13 and its 200 day simple moving average is $76.97.

Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the company earned $7.79 earnings per share. Research analysts predict that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Wednesday, June 18th. Lam Research’s payout ratio is 25.63%.

Analyst Ratings Changes

Several research firms have weighed in on LRCX. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and lifted their price target for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Stifel Nicolaus decreased their price target on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Argus raised shares of Lam Research to a “strong-buy” rating in a research report on Friday, April 25th. B. Riley reissued a “buy” rating on shares of Lam Research in a research report on Thursday, April 24th. Finally, Morgan Stanley boosted their target price on shares of Lam Research from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $90.87.

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.