Lam Research Corporation (NASDAQ:LRCX) Position Boosted by Angeles Wealth Management LLC

Angeles Wealth Management LLC boosted its position in Lam Research Corporation (NASDAQ:LRCX) by 3.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,727 shares of the semiconductor company’s stock after buying an additional 227 shares during the quarter. Angeles Wealth Management LLC’s holdings in Lam Research were worth $489,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. GW&K Investment Management LLC lifted its stake in Lam Research by 10.1% during the first quarter. GW&K Investment Management LLC now owns 1,534 shares of the semiconductor company’s stock worth $112,000 after purchasing an additional 141 shares during the last quarter. Citizens National Bank Trust Department raised its holdings in shares of Lam Research by 34.0% during the first quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company’s stock worth $44,000 after purchasing an additional 153 shares during the period. Cassaday & Co Wealth Management LLC lifted its position in shares of Lam Research by 2.1% in the 1st quarter. Cassaday & Co Wealth Management LLC now owns 7,823 shares of the semiconductor company’s stock worth $569,000 after buying an additional 163 shares during the last quarter. SteelPeak Wealth LLC boosted its holdings in shares of Lam Research by 0.4% in the 1st quarter. SteelPeak Wealth LLC now owns 42,064 shares of the semiconductor company’s stock valued at $3,068,000 after buying an additional 178 shares during the period. Finally, Transcend Capital Advisors LLC boosted its holdings in shares of Lam Research by 2.3% in the 1st quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company’s stock valued at $586,000 after buying an additional 182 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of LRCX opened at $96.96 on Friday. 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 firm’s 50 day moving average is $92.49 and its 200-day moving average is $81.62. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $102.59. The stock has a market capitalization of $124.02 billion, a P/E ratio of 27.02, a P/E/G ratio of 1.38 and a beta of 1.68.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. The company 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 company’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.79 EPS. Equities research analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.95%. Lam Research’s dividend payout ratio (DPR) is 25.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. 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 report on Tuesday, April 15th. TD Cowen dropped their price target on Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. UBS Group boosted their price objective on Lam Research from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 21st. Mizuho boosted their price target on shares of Lam Research from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Monday, July 14th. Finally, B. Riley reiterated a “buy” rating and issued a $115.00 price objective (up from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $100.57.

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.