May Hill Capital LLC Buys 320 Shares of Lam Research Corporation (NASDAQ:LRCX)

May Hill Capital LLC grew its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 4.1% in the first quarter, Holdings Channel reports. The fund owned 8,050 shares of the semiconductor company’s stock after acquiring an additional 320 shares during the quarter. May Hill Capital LLC’s holdings in Lam Research were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Lam Research by 892.7% in 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 purchasing an additional 108,619,564 shares during the period. FMR LLC raised its holdings in Lam Research by 1,032.6% in the fourth 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 last quarter. Ameriprise Financial Inc. raised its holdings in Lam Research by 950.5% in the fourth 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 last quarter. Geode Capital Management LLC raised its holdings in shares of Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Lam Research during the fourth quarter valued at approximately $1,661,672,000. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Down 0.7%

NASDAQ:LRCX opened at $98.14 on Tuesday. The company’s 50-day simple moving average is $86.23 and its 200-day simple moving average is $79.21. The stock has a market capitalization of $125.53 billion, a P/E ratio of 27.35, a P/E/G ratio of 1.39 and a beta of 1.68. 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 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during 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 for the quarter was up 24.4% on a year-over-year basis. During the same period last year, the business earned $7.79 EPS. On average, equities analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Wednesday, June 18th. Lam Research’s dividend payout ratio is presently 25.63%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LRCX. Bank of America reduced their target price on shares of Lam Research from $110.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. UBS Group dropped their price target 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. TD Securities dropped their price target on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Citigroup reiterated a “buy” rating and issued a $108.00 price target (up from $87.00) on shares of Lam Research in a research report on Monday. Finally, TD Cowen dropped their price target on shares of 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 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.10.

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.