Eads & Heald Wealth Management Boosts Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Eads & Heald Wealth Management lifted its holdings in Lam Research Corporation (NASDAQ:LRCX) by 8.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,314 shares of the semiconductor company’s stock after purchasing an additional 1,907 shares during the quarter. Eads & Heald Wealth Management’s holdings in Lam Research were worth $1,695,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LRCX. Huntington National Bank lifted its position in Lam Research by 944.0% in the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company’s stock worth $21,291,000 after buying an additional 266,527 shares during the last quarter. Cerity Partners LLC lifted its position in Lam Research by 781.9% in the fourth quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company’s stock worth $23,920,000 after buying an additional 293,619 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Lam Research in the fourth quarter worth $6,296,000. Pitcairn Co. bought a new stake in Lam Research in the fourth quarter worth $1,013,000. Finally, First Citizens Bank & Trust Co. lifted its position in Lam Research by 47.8% in the first quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company’s stock worth $8,862,000 after buying an additional 39,414 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Performance

LRCX stock opened at $97.20 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The business has a 50-day moving average price of $82.59 and a 200 day moving average price of $78.24. The company has a market capitalization of $124.33 billion, a P/E ratio of 27.09, a PEG ratio of 1.37 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 released 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 firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the company posted $7.79 earnings per share. As a group, equities research analysts forecast that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.95%. Lam Research’s dividend payout ratio (DPR) is presently 25.63%.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of analyst reports. B. Riley restated a “buy” rating and issued a $115.00 price target (up from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $115.00 price target (up from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. UBS Group decreased their target price on 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 decreased their target price on Lam Research from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Finally, TD Cowen decreased their target price on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Seven equities research 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 MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and a consensus target price of $93.97.

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.