QRG Capital Management Inc. Acquires 19,341 Shares of Lam Research Co. (NASDAQ:LRCX)

QRG Capital Management Inc. increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 4.5% during the first quarter, Holdings Channel reports. The fund owned 449,384 shares of the semiconductor company’s stock after purchasing an additional 19,341 shares during the period. QRG Capital Management Inc.’s holdings in Lam Research were worth $32,670,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Financial Perspectives Inc grew its position in Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 309 shares during the last quarter. Fairway Wealth LLC boosted its position in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 306 shares during the last quarter. Midwest Capital Advisors LLC bought a new position in Lam Research in the 4th quarter valued at $27,000. West Paces Advisors Inc. bought a new position in Lam Research in the 4th quarter valued at $27,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Lam Research in the 4th quarter valued at $27,000. 84.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of recent research reports. UBS Group decreased their price objective on Lam Research from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price objective on shares of Lam Research in a research report on Thursday, April 24th. Stifel Nicolaus reduced their price target on Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Barclays reduced their price target on Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company reduced their price target on Lam Research from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $90.87.

Lam Research Stock Performance

LRCX opened at $89.52 on Monday. The company has a market capitalization of $114.51 billion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 1.47 and a beta of 1.65. The business’s 50-day moving average price is $77.13 and its two-hundred day moving average price is $77.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion during 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%. Lam Research’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter last year, the company earned $7.79 EPS. Equities analysts expect that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

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

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.