CWA Asset Management Group LLC Raises Stock Position in Lam Research Corporation (NASDAQ:LRCX)

CWA Asset Management Group LLC raised its holdings in Lam Research Corporation (NASDAQ:LRCX) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,046 shares of the semiconductor company’s stock after purchasing an additional 326 shares during the quarter. CWA Asset Management Group LLC’s holdings in Lam Research were worth $2,330,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Financial Perspectives Inc grew its holdings in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 309 shares during the period. Fairway Wealth LLC boosted its position in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 306 shares in the last quarter. Midwest Capital Advisors LLC acquired a new stake in shares of Lam Research during the 4th quarter worth approximately $27,000. West Paces Advisors Inc. purchased a new position in shares of Lam Research during the 4th quarter valued at approximately $27,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Lam Research in the 4th quarter valued at $27,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Down 0.5%

Shares of NASDAQ LRCX opened at $92.24 on Thursday. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $78.65 and a 200 day moving average of $77.39. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $113.00. The stock has a market cap of $117.99 billion, a PE ratio of 25.71, a P/E/G ratio of 1.30 and a beta of 1.65.

Lam Research (NASDAQ:LRCX) last posted its quarterly 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 business 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 53.21% and a net margin of 27.18%. The business’s revenue was up 24.4% compared to the same quarter last year. During the same period in the prior year, the business earned $7.79 earnings per share. As a group, sell-side analysts predict that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research’s payout ratio is currently 25.63%.

Analyst Ratings Changes

Several analysts recently commented on LRCX shares. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and raised their price target for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. TD Cowen dropped their target price on Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Argus upgraded Lam Research to a “strong-buy” rating in a research note on Friday, April 25th. Mizuho increased their price target on Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, Stifel Nicolaus cut their price objective on Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lam Research has a consensus rating of “Moderate Buy” and a consensus target price of $92.78.

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.