Investment Research & Advisory Group Inc. Buys Shares of 675 Lam Research Corporation (NASDAQ:LRCX)

Investment Research & Advisory Group Inc. purchased a new position in shares of Lam Research Corporation (NASDAQ:LRCX) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 675 shares of the semiconductor company’s stock, valued at approximately $49,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Investment Partners Asset Management Inc. grew its holdings in Lam Research by 5.4% in the 1st quarter. Investment Partners Asset Management Inc. now owns 4,373 shares of the semiconductor company’s stock worth $318,000 after buying an additional 226 shares in the last quarter. Salem Investment Counselors Inc. raised its stake in Lam Research by 5.5% during the 1st quarter. Salem Investment Counselors Inc. now owns 4,716 shares of the semiconductor company’s stock valued at $344,000 after acquiring an additional 246 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its position in Lam Research by 1.9% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company’s stock worth $963,000 after acquiring an additional 248 shares during the period. Shepherd Financial Partners LLC boosted its position in Lam Research by 4.6% during the 1st quarter. Shepherd Financial Partners LLC now owns 6,072 shares of the semiconductor company’s stock worth $441,000 after acquiring an additional 266 shares during the period. Finally, Walker Asset Management LLC grew its stake in shares of Lam Research by 7.8% in the first quarter. Walker Asset Management LLC now owns 3,862 shares of the semiconductor company’s stock worth $281,000 after purchasing an additional 281 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LRCX shares. B. Riley restated a “buy” rating and set a $115.00 price objective (up from $95.00) on shares of Lam Research in a research note on Wednesday. Barclays lowered their target price on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley upped their price target on shares of Lam Research from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Bank of America decreased their price objective on shares of Lam Research from $110.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price objective on shares of Lam Research in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and a consensus price target of $92.78.

Lam Research Trading Down 0.5%

NASDAQ:LRCX opened at $92.24 on Friday. The stock has a fifty day simple moving average of $79.16 and a 200 day simple moving average of $77.49. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $117.99 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 1.30 and a beta of 1.65. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the company posted $7.79 earnings per share. The business’s revenue for the quarter was up 24.4% on a year-over-year basis. Sell-side analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.00%. Lam Research’s payout ratio is currently 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.