Corient Capital Partners LLC bought a new stake in Lam Research Co. (NASDAQ:LRCX) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 8,807 shares of the semiconductor company’s stock, valued at approximately $1,576,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. We Are One Seven LLC acquired a new stake in shares of Lam Research during the fourth quarter worth about $26,000. Berman Capital Advisors LLC acquired a new stake in shares of Lam Research during the fourth quarter worth about $26,000. Global Retirement Partners LLC lifted its holdings in shares of Lam Research by 119.4% during the first quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 80 shares during the period. FTB Advisors Inc. lifted its holdings in shares of Lam Research by 72.0% during the fourth quarter. FTB Advisors Inc. now owns 215 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 90 shares during the period. Finally, Zions Bancorporation N.A. acquired a new stake in shares of Lam Research during the first quarter worth about $28,000. 86.53% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently commented on LRCX shares. Citigroup reaffirmed a “buy” rating and set a $215.00 target price (up previously from $177.00) on shares of Lam Research in a report on Friday, March 15th. Morgan Stanley downgraded Lam Research from an “overweight” rating to an “equal weight” rating in a report on Friday, February 22nd. Royal Bank of Canada lifted their target price on Lam Research to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, April 23rd. Deutsche Bank lifted their target price on Lam Research from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Monday, February 25th. Finally, KeyCorp lifted their target price on Lam Research from $223.00 to $236.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $224.78.

In other news, insider Richard A. Gottscho sold 2,155 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $209.00, for a total value of $450,395.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick J. Lord sold 9,177 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $185.00, for a total value of $1,697,745.00. The disclosure for this sale can be found here. Insiders sold 26,556 shares of company stock valued at $5,252,080 over the last three months. 0.44% of the stock is currently owned by corporate insiders.

Shares of NASDAQ:LRCX opened at $175.19 on Tuesday. Lam Research Co. has a 12-month low of $122.64 and a 12-month high of $209.50. The company has a market capitalization of $26.18 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 1.02 and a beta of 1.63. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.37 and a quick ratio of 2.79.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.38 by $0.32. Lam Research had a return on equity of 46.66% and a net margin of 25.64%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the company posted $4.79 earnings per share. Lam Research’s revenue for the quarter was down 15.7% on a year-over-year basis. On average, sell-side analysts anticipate that Lam Research Co. will post 14.33 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Wednesday, June 12th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Tuesday, June 11th. Lam Research’s payout ratio is presently 24.62%.

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Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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