International Assets Investment Management LLC Purchases Shares of 10,780 Lam Research Corporation (NASDAQ:LRCX)

International Assets Investment Management LLC acquired a new position in shares of Lam Research Corporation (NASDAQ:LRCX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,780 shares of the semiconductor company’s stock, valued at approximately $784,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock valued at $8,724,498,000 after acquiring an additional 108,619,564 shares during the last quarter. FMR LLC lifted its holdings in shares of Lam Research by 1,032.6% in the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Lam Research by 950.5% in the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares during the period. Geode Capital Management LLC boosted its position in shares of Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares during the period. Finally, Norges Bank purchased a new position in Lam Research during the 4th quarter worth approximately $1,661,672,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Morgan Stanley boosted their price objective on Lam Research from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Evercore ISI lifted their target price 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. Cantor Fitzgerald increased their price target on shares of Lam Research from $90.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday. Jefferies Financial Group lifted their price objective on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Finally, B. Riley reaffirmed a “buy” rating and issued a $115.00 target price (up from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and an average target price of $93.97.

Lam Research Stock Performance

Shares of LRCX opened at $96.02 on Thursday. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $113.00. The company has a 50-day simple moving average of $81.26 and a 200-day simple moving average of $77.94. The company has a market capitalization of $122.82 billion, a PE ratio of 26.76, a P/E/G ratio of 1.35 and a beta of 1.65.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period last year, the company posted $7.79 earnings per share. Equities research analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Wednesday, June 18th. Lam Research’s dividend 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.