Fort Washington Investment Advisors Inc. OH Boosts Stock Position in Lam Research Co. (NASDAQ:LRCX)

Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 1.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,055 shares of the semiconductor company’s stock after acquiring an additional 345 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Lam Research were worth $1,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after purchasing an additional 108,619,564 shares in the last quarter. FMR LLC increased its holdings in shares of Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock worth $2,495,128,000 after acquiring an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC increased its stake in Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after acquiring an additional 28,307,499 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Lam Research during the fourth quarter valued at approximately $1,661,672,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Down 2.3%

LRCX stock opened at $89.52 on Friday. The stock has a market capitalization of $114.51 billion, a P/E ratio of 27.19, a PEG ratio of 1.47 and a beta of 1.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00. The company has a 50 day moving average price of $77.13 and a two-hundred day moving average price of $76.97.

Lam Research (NASDAQ:LRCX) last announced its quarterly 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 company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Lam Research’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter last year, the business earned $7.79 EPS. As a group, sell-side analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LRCX shares. Mizuho boosted their price target on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Evercore ISI raised their price objective on Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. TD Cowen lowered their price target on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. UBS Group reduced their price objective on Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Stifel Nicolaus cut their price target on Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.