Seven Mile Advisory Grows Holdings in Lam Research Corporation (NASDAQ:LRCX)

Seven Mile Advisory grew its stake in Lam Research Corporation (NASDAQ:LRCX) by 13.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 4,074 shares of the semiconductor company’s stock after acquiring an additional 483 shares during the period. Seven Mile Advisory’s holdings in Lam Research were worth $296,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in LRCX. Brighton Jones LLC increased its stake in Lam Research by 1,032.4% during the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock worth $1,025,000 after buying an additional 12,936 shares during the period. Renaissance Technologies LLC increased its stake in Lam Research by 198.6% during the 4th quarter. Renaissance Technologies LLC now owns 88,260 shares of the semiconductor company’s stock worth $6,375,000 after buying an additional 58,703 shares during the period. Evergreen Capital Management LLC increased its stake in Lam Research by 842.4% during the 4th quarter. Evergreen Capital Management LLC now owns 8,133 shares of the semiconductor company’s stock worth $589,000 after buying an additional 7,270 shares during the period. NewEdge Advisors LLC increased its stake in Lam Research by 1,310.0% during the 4th quarter. NewEdge Advisors LLC now owns 83,427 shares of the semiconductor company’s stock worth $6,026,000 after buying an additional 77,510 shares during the period. Finally, Zacks Investment Management increased its stake in Lam Research by 711.8% during the 4th quarter. Zacks Investment Management now owns 10,845 shares of the semiconductor company’s stock worth $783,000 after buying an additional 9,509 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Lam Research from $92.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $115.00 target price (up from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. KeyCorp increased their price objective on shares of Lam Research from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Wall Street Zen raised shares of Lam Research from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Finally, Oppenheimer increased their price objective on shares of Lam Research from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Seven analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $107.09.

Lam Research Stock Down 7.3%

Shares of NASDAQ:LRCX opened at $99.51 on Friday. The stock has a market cap of $125.94 billion, a P/E ratio of 23.92, a P/E/G ratio of 1.29 and a beta of 1.65. The firm has a fifty day moving average price of $97.50 and a 200 day moving average price of $83.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $108.02.

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

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.9%. Lam Research’s dividend payout ratio is presently 22.12%.

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.