Gries Financial LLC Purchases 728 Shares of Lam Research Corporation (NASDAQ:LRCX)

Gries Financial LLC lifted its position in Lam Research Corporation (NASDAQ:LRCX) by 6.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,762 shares of the semiconductor company’s stock after buying an additional 728 shares during the period. Gries Financial LLC’s holdings in Lam Research were worth $855,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Huntington National Bank lifted its stake in shares of 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 in the last quarter. Cerity Partners LLC increased its holdings in Lam Research by 781.9% during the fourth 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 during the last quarter. Pinnacle Financial Partners Inc purchased a new stake in shares of Lam Research in the first quarter worth $201,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Lam Research in the fourth quarter worth $6,296,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Lam Research by 27.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company’s stock worth $3,607,000 after purchasing an additional 10,565 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LRCX shares. Mizuho increased their price objective on shares of Lam Research from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. Jefferies Financial Group raised their target price on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Needham & Company LLC cut their price objective on shares of Lam Research from $96.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. TD Cowen dropped their target price on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, TD Securities decreased their price objective on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.14.

Lam Research Price Performance

Lam Research stock opened at $101.86 on Monday. The firm has a market cap of $130.30 billion, a P/E ratio of 28.39, a P/E/G ratio of 1.42 and a beta of 1.68. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $102.35. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The business’s fifty day moving average is $91.10 and its two-hundred day moving average is $80.94.

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

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Wednesday, June 18th. Lam Research’s dividend payout ratio (DPR) is presently 25.63%.

Lam Research Company 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.