State of Alaska Department of Revenue Grows Position in Lam Research Corporation (NASDAQ:LRCX)

State of Alaska Department of Revenue raised its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,415 shares of the semiconductor company’s stock after buying an additional 3,740 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lam Research were worth $10,935,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Financial Perspectives Inc grew its holdings in shares of 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 buying an additional 309 shares in the last quarter. Fairway Wealth LLC grew its holdings in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 306 shares during the period. Midwest Capital Advisors LLC purchased a new stake in shares of Lam Research in the fourth quarter valued at about $27,000. West Paces Advisors Inc. purchased a new stake in shares of Lam Research in the fourth quarter valued at about $27,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Lam Research in the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Argus raised shares of Lam Research to a “strong-buy” rating in a report on Friday, April 25th. Bank of America dropped their price objective on shares of Lam Research from $110.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price objective on shares of Lam Research in a report on Thursday, April 24th. TD Cowen dropped their price objective on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Finally, Evercore ISI upped their price objective 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. Seven 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.78.

Lam Research Stock Down 0.5%

Shares of LRCX opened at $92.24 on Thursday. The stock has a market capitalization 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 Corporation has a 1 year low of $56.32 and a 1 year high of $113.00. 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 company’s 50-day simple moving average is $78.65 and its 200-day simple moving average is $77.39.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion for 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 business’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.79 earnings per share. Analysts forecast that Lam Research Corporation will post 3.71 earnings per share 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 issued a $0.23 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 1.00%. Lam Research’s dividend payout ratio (DPR) is 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.