Wedmont Private Capital Raises Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Wedmont Private Capital lifted its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 15.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,362 shares of the semiconductor company’s stock after acquiring an additional 2,367 shares during the quarter. Wedmont Private Capital’s holdings in Lam Research were worth $1,172,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Orrstown Financial Services Inc. grew its holdings in Lam Research by 41.3% during the first quarter. Orrstown Financial Services Inc. now owns 11,279 shares of the semiconductor company’s stock valued at $820,000 after purchasing an additional 3,298 shares during the period. Sivia Capital Partners LLC grew its holdings in Lam Research by 23.8% during the first quarter. Sivia Capital Partners LLC now owns 3,692 shares of the semiconductor company’s stock valued at $268,000 after purchasing an additional 710 shares during the period. Persium Advisors LLC bought a new position in Lam Research during the first quarter valued at $466,000. Princeton Global Asset Management LLC grew its holdings in Lam Research by 8.7% during the first quarter. Princeton Global Asset Management LLC now owns 33,823 shares of the semiconductor company’s stock valued at $2,459,000 after purchasing an additional 2,702 shares during the period. Finally, Gateway Investment Advisers LLC grew its holdings in Lam Research by 1.9% during the first quarter. Gateway Investment Advisers LLC now owns 111,495 shares of the semiconductor company’s stock valued at $8,106,000 after purchasing an additional 2,102 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of analyst reports. TD Securities cut their price target on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Oppenheimer cut their price target on Lam Research from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, April 11th. TD Cowen cut their price target on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Bank of America cut their price target on Lam Research from $110.00 to $90.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Finally, Barclays cut their price target on Lam Research from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $90.87.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $86.35 on Monday. The company has a market capitalization of $110.45 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The firm has a 50 day moving average of $74.51 and a 200 day moving average of $76.42.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. Lam Research’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.79 earnings per share. On average, 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 firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Wednesday, June 18th. Lam Research’s dividend payout ratio (DPR) is 25.63%.

About Lam Research

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.