Mayport LLC Purchases New Holdings in Lam Research Corporation (NASDAQ:LRCX)

Mayport LLC acquired a new position in Lam Research Corporation (NASDAQ:LRCX) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,140 shares of the semiconductor company’s stock, valued at approximately $228,000.

Other institutional investors also recently modified their holdings 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 acquiring an additional 108,619,564 shares during the period. FMR LLC lifted its position in shares of Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock worth $2,891,453,000 after buying an additional 36,496,689 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock worth $2,495,128,000 after buying an additional 31,255,726 shares during the period. Geode Capital Management LLC boosted its stake in Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock valued at $2,265,610,000 after buying 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 and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

LRCX has been the subject of several recent analyst reports. TD Cowen cut their price objective on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 24th. UBS Group dropped their target price on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Barclays cut their price target on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Bank of America decreased their price objective on shares of Lam Research from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Finally, Wells Fargo & Company dropped their price objective on shares of Lam Research from $85.00 to $75.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Seven investment 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $92.78.

Lam Research Price Performance

Shares of LRCX opened at $90.49 on Friday. The stock has a market cap of $115.75 billion, a P/E ratio of 25.22, 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. The stock’s 50-day moving average price is $79.62 and its two-hundred day moving average price is $77.57. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. Lam Research’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the firm earned $7.79 EPS. On average, equities analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.02%. Lam Research’s dividend payout ratio is 25.63%.

Lam Research 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.