Princeton Global Asset Management LLC Buys 2,702 Shares of Lam Research Co. (NASDAQ:LRCX)

Princeton Global Asset Management LLC increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 8.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 33,823 shares of the semiconductor company’s stock after purchasing an additional 2,702 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Lam Research were worth $2,459,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Legacy Wealth Asset Management LLC raised its stake in shares of Lam Research by 1.9% in the first quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company’s stock valued at $963,000 after acquiring an additional 248 shares during the period. Paladin Wealth LLC grew its stake in shares of Lam Research by 4.0% during the first quarter. Paladin Wealth LLC now owns 7,489 shares of the semiconductor company’s stock valued at $544,000 after buying an additional 289 shares during the last quarter. Fairway Wealth LLC raised its holdings in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after buying an additional 306 shares during the period. Financial Perspectives Inc raised its holdings in shares of Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after buying an additional 309 shares during the period. Finally, Bell Investment Advisors Inc lifted its stake in shares of Lam Research by 836.6% during the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 343 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on Lam Research from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 24th. Stifel Nicolaus reduced their price target on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Barclays lowered their price objective on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Bank of America dropped their target price on shares of Lam Research from $110.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Finally, B. Riley reaffirmed a “buy” rating on shares of Lam Research in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.56.

Lam Research Trading Up 1.7%

Lam Research stock opened at $86.35 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a market cap of $110.45 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. The stock has a 50-day moving average of $74.51 and a two-hundred day moving average of $76.35. Lam Research Co. has a one year low of $56.32 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.79 earnings per share. On average, research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.07%. Lam Research’s dividend payout ratio is currently 25.63%.

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.