Gateway Investment Advisers LLC Has $8.11 Million Stake in Lam Research Co. (NASDAQ:LRCX)

Gateway Investment Advisers LLC grew its stake in Lam Research Co. (NASDAQ:LRCX) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,495 shares of the semiconductor company’s stock after acquiring an additional 2,102 shares during the period. Gateway Investment Advisers LLC’s holdings in Lam Research were worth $8,106,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Financial Perspectives Inc lifted its stake in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares during the period. Fairway Wealth LLC raised its holdings in Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 306 shares during the period. Midwest Capital Advisors LLC bought a new position in shares of Lam Research during the fourth quarter worth $27,000. West Paces Advisors Inc. bought a new position in shares of Lam Research during the fourth quarter worth $27,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of Lam Research in the 4th quarter valued at $27,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $86.35 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The business has a 50-day moving average of $74.51 and a 200-day moving average of $76.40. The stock has a market capitalization of $110.45 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 1.47 and a beta of 1.65. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business’s revenue was up 24.4% compared to the same quarter last year. During the same period last year, the company earned $7.79 earnings per share. As a group, sell-side analysts predict that Lam Research Co. 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 dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 1.07%. Lam Research’s payout ratio is 25.63%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. B. Riley reaffirmed a “buy” rating on shares of Lam Research in a research note on Thursday, April 24th. Evercore ISI raised their price target on Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Jefferies Financial Group boosted their price objective on Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, March 28th. TD Cowen dropped their target price on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, Morgan Stanley lifted their price target on shares of Lam Research from $81.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.87.

Lam Research Company 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.