Empower Advisory Group LLC Has $2.23 Million Stake in Lam Research Corporation (NASDAQ:LRCX)

Empower Advisory Group LLC lowered its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 1.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,689 shares of the semiconductor company’s stock after selling 593 shares during the quarter. Empower Advisory Group LLC’s holdings in Lam Research were worth $2,231,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC acquired a new position in Lam Research during the first quarter valued at approximately $26,000. West Paces Advisors Inc. bought a new position in Lam Research in the fourth quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC bought a new position in Lam Research in the fourth quarter valued at approximately $27,000. Park Square Financial Group LLC bought a new position in Lam Research in the fourth quarter valued at approximately $31,000. Finally, Putney Financial Group LLC bought a new position in Lam Research in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of research reports. Citigroup boosted their price objective on shares of Lam Research from $108.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. UBS Group boosted their price objective on shares of Lam Research from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $115.00 price objective (up previously from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. Summit Insights lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research report on Thursday, July 31st. Finally, Bank of America cut their price objective on shares of Lam Research from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $107.09.

Lam Research Price Performance

LRCX opened at $96.68 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. The company has a market capitalization of $123.67 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 1.29 and a beta of 1.65. The firm’s fifty day moving average price is $94.56 and its two-hundred day moving average price is $82.67. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $102.59.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The business’s revenue for the quarter was up 33.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 EPS. As a group, analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

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

About Lam Research

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.