Range Financial Group LLC Purchases 359 Shares of Lam Research Co. (NASDAQ:LRCX)

Range Financial Group LLC increased its position in Lam Research Co. (NASDAQ:LRCX) by 9.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,319 shares of the semiconductor company’s stock after acquiring an additional 359 shares during the period. Range Financial Group LLC’s holdings in Lam Research were worth $314,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Lam Research by 892.7% in 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 period. FMR LLC grew its holdings in shares of Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock worth $2,891,453,000 after acquiring an additional 36,496,689 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Lam Research by 950.5% in the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock worth $2,495,128,000 after acquiring an additional 31,255,726 shares during the period. Geode Capital Management LLC grew 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 acquiring an additional 28,307,499 shares during the period. Finally, Norges Bank bought a new stake in shares of Lam Research in the fourth quarter worth $1,661,672,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

NASDAQ LRCX opened at $88.30 on Tuesday. The firm has a market cap of $112.95 billion, a price-to-earnings ratio of 26.82, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $74.80 and a 200-day moving average price of $76.53. Lam Research Co. has a twelve month low of $56.32 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business’s quarterly revenue 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. As a group, equities research analysts predict that Lam Research Co. will post 3.71 EPS 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. Investors of record on Wednesday, June 18th will be given 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 1.04%. Lam Research’s dividend payout ratio is currently 25.63%.

Analysts Set New Price Targets

Several brokerages recently commented on LRCX. Oppenheimer cut their price objective on Lam Research from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, April 11th. TD Cowen cut their price target on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price target on shares of Lam Research in a report on Thursday, April 24th. B. Riley reissued a “buy” rating on shares of Lam Research in a report on Thursday, April 24th. Finally, Morgan Stanley boosted their price target on Lam Research from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.