Parisi Gray Wealth Management Acquires 814 Shares of Lam Research Co. (NASDAQ:LRCX)

Parisi Gray Wealth Management boosted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 9.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,164 shares of the semiconductor company’s stock after purchasing an additional 814 shares during the quarter. Parisi Gray Wealth Management’s holdings in Lam Research were worth $666,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LRCX. Vanguard Group Inc. boosted its position in shares of Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after acquiring an additional 108,619,564 shares during the last quarter. FMR LLC lifted its stake in Lam Research by 1,032.6% in the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after purchasing an additional 28,307,499 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Lam Research in the fourth quarter worth about $1,661,672,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Up 1.7%

NASDAQ:LRCX opened at $86.35 on Monday. The company’s 50-day simple moving average is $74.51 and its 200-day simple moving average is $76.42. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The stock has a market capitalization of $110.45 billion, a P/E ratio of 26.23, a P/E/G ratio of 1.47 and a beta of 1.65.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results 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 business 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 51.86% and a net margin of 26.49%. The company’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the company earned $7.79 earnings per share. On average, equities analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research’s dividend payout ratio (DPR) is 25.63%.

Analysts Set New Price Targets

A number of research firms have issued reports on LRCX. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the stock a “hold” rating in a research note on Thursday, April 24th. UBS Group dropped their target price on Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, April 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, April 24th. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and upped their price objective for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. Finally, Barclays reduced their price target on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Seven equities 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.87.

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.