Cornerstone Wealth Group LLC Has $252,000 Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Cornerstone Wealth Group LLC raised its holdings in Lam Research Corporation (NASDAQ:LRCX) by 18.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,467 shares of the semiconductor company’s stock after buying an additional 539 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Lam Research were worth $252,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in LRCX. Vanguard Group Inc. lifted its position in shares of Lam Research by 892.7% during the 4th 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 raised its holdings in shares of Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares during the period. Ameriprise Financial Inc. boosted 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 purchasing an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of 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 during the period. Finally, Norges Bank bought a new stake in Lam Research in the 4th quarter valued at about $1,661,672,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on LRCX shares. B. Riley reaffirmed a “buy” rating and set a $115.00 target price (up from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Barclays lowered their price objective on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company reduced 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. 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 report on Thursday, April 24th. Finally, Argus raised shares of Lam Research to a “strong-buy” rating in a research report on Friday, April 25th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Moderate Buy” and an average price target of $93.97.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $95.63 on Wednesday. The company has a market capitalization of $122.32 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 1.29 and a beta of 1.65. The company’s 50-day moving average is $80.64 and its 200 day moving average is $77.81. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last released its 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. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the previous year, the company earned $7.79 earnings per share. The company’s quarterly revenue was up 24.4% on a year-over-year basis. On average, equities research analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research’s dividend 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.