Capital Investment Counsel Inc Grows Stake in Lam Research Corporation (NASDAQ:LRCX)

Capital Investment Counsel Inc raised its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 10.9% in the first quarter, Holdings Channel.com reports. The fund owned 18,380 shares of the semiconductor company’s stock after acquiring an additional 1,800 shares during the quarter. Capital Investment Counsel Inc’s holdings in Lam Research were worth $1,336,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LRCX. Fairway Wealth LLC boosted its position in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 306 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Lam Research in the 1st quarter worth $26,000. West Paces Advisors Inc. acquired a new stake in Lam Research during the fourth quarter worth about $27,000. Mpwm Advisory Solutions LLC acquired a new position in Lam Research in the 4th quarter valued at about $27,000. Finally, Bell Investment Advisors Inc raised its position in shares of Lam Research by 836.6% during the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 343 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Up 2.1%

Lam Research stock opened at $98.83 on Thursday. The stock has a 50 day moving average of $84.60 and a two-hundred day moving average of $78.66. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $113.00. The stock has a market capitalization of $126.42 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 1.37 and a beta of 1.68. 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 announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The company 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%. Lam Research’s revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the company posted $7.79 EPS. As a group, research analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

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 paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research’s dividend payout ratio (DPR) is 25.63%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LRCX. Jefferies Financial Group boosted their price objective on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, March 28th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the stock a “hold” rating in a research note on Thursday, April 24th. Evercore ISI upped their target price on shares of Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Argus upgraded shares of Lam Research to a “strong-buy” rating in a research note on Friday, April 25th. Finally, Stifel Nicolaus cut their target price on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $94.20.

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.