Chicago Capital LLC Invests $904,000 in Lam Research Corporation (NASDAQ:LRCX)

Chicago Capital LLC bought a new position in Lam Research Corporation (NASDAQ:LRCX) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 12,435 shares of the semiconductor company’s stock, valued at approximately $904,000.

Several other hedge funds have also bought and sold shares of the stock. Grove Bank & Trust bought a new position in shares of Lam Research during the 1st quarter valued at approximately $245,000. QRG Capital Management Inc. increased its stake in shares of Lam Research by 4.5% in the first quarter. QRG Capital Management Inc. now owns 449,384 shares of the semiconductor company’s stock worth $32,670,000 after purchasing an additional 19,341 shares in the last quarter. Sagespring Wealth Partners LLC lifted its stake in shares of Lam Research by 66.3% during the 1st quarter. Sagespring Wealth Partners LLC now owns 12,696 shares of the semiconductor company’s stock valued at $923,000 after buying an additional 5,062 shares in the last quarter. Precedent Wealth Partners LLC boosted its holdings in Lam Research by 12.1% in the 1st quarter. Precedent Wealth Partners LLC now owns 28,757 shares of the semiconductor company’s stock worth $2,091,000 after buying an additional 3,094 shares during the period. Finally, Sowell Financial Services LLC increased its stake in Lam Research by 4.7% in the 1st quarter. Sowell Financial Services LLC now owns 20,047 shares of the semiconductor company’s stock worth $1,457,000 after buying an additional 899 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LRCX. Mizuho boosted their price objective on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. B. Riley reissued a “buy” rating on shares of Lam Research in a report on Thursday, April 24th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Morgan Stanley upped their target price on shares of Lam Research from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. Finally, Oppenheimer lifted their price target on shares of Lam Research from $80.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $92.30.

Lam Research Price Performance

Shares of Lam Research stock opened at $92.66 on Wednesday. The stock has a market cap of $118.52 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 1.32 and a beta of 1.65. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The stock has a 50 day moving average price of $78.22 and a 200-day moving average price of $77.29. Lam Research Corporation 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 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the firm earned $7.79 earnings per share. Lam Research’s quarterly revenue was up 24.4% compared to the same quarter last year. Equities analysts expect that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research’s 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.