Meeder Advisory Services Inc. Has $2.56 Million Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Meeder Advisory Services Inc. increased its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 12.3% in the 1st quarter, HoldingsChannel reports. The firm owned 35,180 shares of the semiconductor company’s stock after acquiring an additional 3,849 shares during the period. Meeder Advisory Services Inc.’s holdings in Lam Research were worth $2,558,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. GW&K Investment Management LLC lifted its holdings 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 acquiring an additional 141 shares during the period. Citizens National Bank Trust Department lifted its holdings in 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 acquiring an additional 153 shares during the period. Cassaday & Co Wealth Management LLC lifted its holdings in Lam Research by 2.1% during the first quarter. Cassaday & Co Wealth Management LLC now owns 7,823 shares of the semiconductor company’s stock worth $569,000 after acquiring an additional 163 shares during the period. SteelPeak Wealth LLC lifted its holdings in Lam Research by 0.4% during the first quarter. SteelPeak Wealth LLC now owns 42,064 shares of the semiconductor company’s stock worth $3,068,000 after acquiring an additional 178 shares during the period. Finally, Transcend Capital Advisors LLC lifted its holdings in Lam Research by 2.3% during the first quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company’s stock worth $586,000 after acquiring an additional 182 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LRCX. Citigroup restated a “buy” rating and issued a $108.00 target price (up from $87.00) on shares of Lam Research in a research note on Monday, July 7th. TD Cowen lowered their target price on Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. KeyCorp boosted their target price on Lam Research from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Wells Fargo & Company boosted their target price on Lam Research from $75.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Finally, UBS Group boosted their target price on Lam Research from $95.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lam Research has an average rating of “Moderate Buy” and a consensus price target of $101.19.

Lam Research Stock Up 1.7%

Shares of NASDAQ:LRCX opened at $98.62 on Tuesday. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $102.59. The firm has a market capitalization of $126.15 billion, a P/E ratio of 27.49, a P/E/G ratio of 1.37 and a beta of 1.68. The stock has a 50 day moving average price of $92.79 and a 200-day moving average price of $81.85. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Wednesday, June 18th. Lam Research’s dividend payout ratio is currently 25.63%.

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.