Wedmont Private Capital Grows Stock Position in Lam Research Co. (NASDAQ:LRCX)

Wedmont Private Capital boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 15.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,362 shares of the semiconductor company’s stock after acquiring an additional 2,367 shares during the quarter. Wedmont Private Capital’s holdings in Lam Research were worth $1,172,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Legacy Wealth Asset Management LLC boosted its stake in shares of Lam Research by 1.9% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company’s stock valued at $963,000 after buying an additional 248 shares during the last quarter. Paladin Wealth LLC boosted its stake in shares of Lam Research by 4.0% during the 1st 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 boosted its stake in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 306 shares during the last quarter. Financial Perspectives Inc boosted its stake in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. Finally, Bell Investment Advisors Inc boosted 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 valued at $28,000 after buying an additional 343 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LRCX. Morgan Stanley upped their price target on Lam Research from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Jefferies Financial Group upped their price target on Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Wells Fargo & Company dropped their price target on Lam Research from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the company a “hold” rating in a research report on Thursday, April 24th. Finally, Stifel Nicolaus dropped their price target on Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.87.

Lam Research Stock Performance

NASDAQ:LRCX opened at $86.35 on Monday. The stock has a fifty day moving average price of $74.51 and a 200-day moving average price of $76.42. The company has a market cap of $110.45 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 1.47 and a beta of 1.65. 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.

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

Lam Research Dividend Announcement

The company 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 annualized dividend and a yield of 1.07%. Lam Research’s 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.