Lam Research Corporation (NASDAQ:LRCX) Shares Purchased by Probity Advisors Inc.

Probity Advisors Inc. raised its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,519 shares of the semiconductor company’s stock after buying an additional 1,375 shares during the period. Probity Advisors Inc.’s holdings in Lam Research were worth $2,728,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Lam Research by 1,032.4% during the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock worth $1,025,000 after purchasing an additional 12,936 shares in the last quarter. World Investment Advisors lifted its position in shares of Lam Research by 2,039.5% during the fourth quarter. World Investment Advisors now owns 5,798 shares of the semiconductor company’s stock worth $419,000 after purchasing an additional 5,527 shares in the last quarter. Arete Wealth Advisors LLC acquired a new position in shares of Lam Research during the fourth quarter worth $230,000. Foundry Partners LLC lifted its position in shares of Lam Research by 900.0% during the fourth quarter. Foundry Partners LLC now owns 3,450 shares of the semiconductor company’s stock worth $249,000 after purchasing an additional 3,105 shares in the last quarter. Finally, Thoroughbred Financial Services LLC acquired a new position in shares of Lam Research during the fourth quarter worth $1,113,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of recent research reports. Needham & Company LLC boosted their target price on shares of Lam Research from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Company set a $98.00 price target on shares of Lam Research and gave the company an “equal weight” rating in a report on Thursday. KeyCorp upped their price target on shares of Lam Research from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Argus upped their price target on shares of Lam Research from $105.00 to $120.00 and gave the company a “buy” rating in a report on Friday. Finally, Evercore ISI upped their price target on shares of Lam Research from $95.00 to $99.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $107.09.

Lam Research Stock Up 1.6%

Lam Research stock opened at $96.37 on Monday. The company has a 50-day simple moving average of $93.96 and a 200-day simple moving average of $82.44. The firm has a market capitalization of $123.27 billion, a P/E ratio of 23.17, a P/E/G ratio of 1.29 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21. Lam Research Corporation has a one year low of $56.32 and a one year high of $102.59.

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

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders 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 annualized dividend and a dividend yield of 1.0%. Lam Research’s dividend payout ratio is currently 22.12%.

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.