Cumberland Partners Ltd Makes New $218,000 Investment in Lam Research Corporation (NASDAQ:LRCX)

Cumberland Partners Ltd purchased a new position in Lam Research Corporation (NASDAQ:LRCX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,000 shares of the semiconductor company’s stock, valued at approximately $218,000.

Several other institutional investors have also added to or reduced their stakes in the business. Jupiter Asset Management Ltd. acquired a new stake in shares of Lam Research during the first quarter worth about $5,197,000. Baker Avenue Asset Management LP lifted its holdings in Lam Research by 2.3% in the first quarter. Baker Avenue Asset Management LP now owns 209,306 shares of the semiconductor company’s stock valued at $15,217,000 after acquiring an additional 4,687 shares during the period. Moors & Cabot Inc. lifted its holdings in Lam Research by 6.2% in the first quarter. Moors & Cabot Inc. now owns 28,342 shares of the semiconductor company’s stock valued at $2,060,000 after acquiring an additional 1,659 shares during the period. US Bancorp DE lifted its holdings in Lam Research by 0.4% in the first quarter. US Bancorp DE now owns 437,832 shares of the semiconductor company’s stock valued at $31,830,000 after acquiring an additional 1,803 shares during the period. Finally, Nicolet Advisory Services LLC lifted its holdings in Lam Research by 32.6% in the first quarter. Nicolet Advisory Services LLC now owns 5,947 shares of the semiconductor company’s stock valued at $395,000 after acquiring an additional 1,462 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of Lam Research stock opened at $96.37 on Friday. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $102.59. The business’s fifty day simple moving average is $93.96 and its 200-day simple moving average is $82.42. The firm has a market cap of $123.27 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.36 and a beta of 1.65. The company has a quick ratio of 1.64, a current ratio of 2.21 and a debt-to-equity ratio of 0.38.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the company posted $1.03 EPS. The company’s quarterly revenue was up 33.6% on a year-over-year basis. Equities analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 1.0%. Lam Research’s dividend payout ratio is presently 22.12%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Needham & Company LLC boosted their price target on Lam Research from $110.00 to $115.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group assumed coverage on Lam Research in a report on Thursday, July 10th. They issued a “buy” rating and a $115.00 price target for the company. Stifel Nicolaus boosted their price target on Lam Research from $92.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Argus boosted their price target on Lam Research from $105.00 to $120.00 and gave the company a “buy” rating in a report on Friday. Finally, Morgan Stanley boosted their price objective on Lam Research from $87.00 to $94.00 and gave the company an “equal weight” rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $107.09.

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.