Chatham Capital Group Inc. Purchases New Shares in Lam Research Co. (NASDAQ:LRCX)

Chatham Capital Group Inc. purchased a new stake in Lam Research Co. (NASDAQ:LRCX) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 8,735 shares of the semiconductor company’s stock, valued at approximately $635,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of LRCX. Legacy Wealth Asset Management LLC raised its position in Lam Research by 1.9% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company’s stock worth $963,000 after buying an additional 248 shares during the last quarter. Paladin Wealth LLC raised its position in Lam Research by 4.0% during the 1st quarter. Paladin Wealth LLC now owns 7,489 shares of the semiconductor company’s stock worth $544,000 after buying an additional 289 shares during the last quarter. Fairway Wealth LLC raised its position in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after buying an additional 306 shares during the last quarter. Financial Perspectives Inc raised its position in Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after buying an additional 309 shares during the last quarter. Finally, Bell Investment Advisors Inc raised its position in Lam Research by 836.6% during the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company’s stock worth $28,000 after buying an additional 343 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on LRCX shares. Oppenheimer cut their price objective on shares of Lam Research from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Wells Fargo & Company lowered their price target on shares of Lam Research from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Evercore ISI upped their price target on shares of Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Barclays lowered their price target on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus lowered their price target on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.56.

Lam Research Price Performance

NASDAQ:LRCX opened at $84.91 on Friday. The firm has a market cap of $108.61 billion, a price-to-earnings ratio of 25.79, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company’s 50-day moving average is $74.24 and its two-hundred day moving average is $76.24. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last released 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 for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm earned $7.79 EPS. Research analysts expect that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.08%. 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.