Transform Wealth LLC Has $17.32 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Transform Wealth LLC lowered its stake in Lam Research Co. (NASDAQ:LRCX) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,423 shares of the semiconductor company’s stock after selling 911 shares during the period. Lam Research accounts for 1.0% of Transform Wealth LLC’s holdings, making the stock its 22nd largest holding. Transform Wealth LLC’s holdings in Lam Research were worth $17,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after purchasing an additional 108,619,564 shares during the period. FMR LLC lifted its holdings in shares of Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock worth $2,495,128,000 after purchasing an additional 31,255,726 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after purchasing an additional 28,307,499 shares during the period. Finally, Norges Bank acquired a new position in shares of Lam Research during the fourth quarter worth $1,661,672,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Up 3.1%

Lam Research stock opened at $91.00 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a market cap of $116.40 billion, a PE ratio of 27.64, a price-to-earnings-growth 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. The firm’s 50-day simple moving average is $75.32 and its 200 day simple moving average is $76.63.

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

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders 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 1.01%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research’s payout ratio is 25.63%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on LRCX shares. Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the stock a “hold” rating in a research note on Thursday, April 24th. B. Riley reaffirmed a “buy” rating on shares of Lam Research in a research note on Thursday, April 24th. Jefferies Financial Group lifted their price target on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Mizuho lifted their price target on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Oppenheimer decreased their price target on shares of Lam Research from $95.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lam Research currently has a consensus 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.