Stiles Financial Services Inc Acquires 2,096 Shares of Lam Research Corporation (NASDAQ:LRCX)

Stiles Financial Services Inc raised its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 4.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 49,666 shares of the semiconductor company’s stock after acquiring an additional 2,096 shares during the period. Lam Research makes up 1.4% of Stiles Financial Services Inc’s holdings, making the stock its 15th largest position. Stiles Financial Services Inc’s holdings in Lam Research were worth $3,611,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank raised its position in shares of Lam Research by 944.0% during the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company’s stock valued at $21,291,000 after acquiring an additional 266,527 shares during the last quarter. Cerity Partners LLC increased its position in shares of Lam Research by 781.9% in the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company’s stock valued at $23,920,000 after buying an additional 293,619 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of Lam Research in the 4th quarter valued at $6,296,000. Pitcairn Co. bought a new stake in shares of Lam Research in the 4th quarter valued at $1,013,000. Finally, First Citizens Bank & Trust Co. increased its position in shares of Lam Research by 47.8% in the 1st quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company’s stock valued at $8,862,000 after buying an additional 39,414 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on LRCX shares. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on shares of Lam Research and gave the company a “hold” rating in a research report on Thursday, April 24th. Argus upgraded shares of Lam Research to a “strong-buy” rating in a research report on Friday, April 25th. UBS Group reduced 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 note on Monday, April 14th. Jefferies Financial Group upped their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Finally, Morgan Stanley upped 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 note on Thursday, April 24th. Seven investment 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, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.78.

Lam Research Trading Down 1.9%

Shares of LRCX stock opened at $90.49 on Monday. The company’s fifty day simple moving average is $79.62 and its two-hundred day simple moving average is $77.58. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $113.00. The stock has a market capitalization of $115.75 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 1.27 and a beta of 1.65.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings results 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 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 27.18% and a return on equity of 53.21%. The business’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.79 earnings per share. As a group, analysts anticipate 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 issued a $0.23 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.02%. Lam Research’s payout ratio is currently 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.