Lam Research Co. (NASDAQ:LRCX) Shares Acquired by CVA Family Office LLC

CVA Family Office LLC raised its position in shares of Lam Research Co. (NASDAQ:LRCXGet Rating) by 20.8% in the second quarter, HoldingsChannel reports. The firm owned 145 shares of the semiconductor company’s stock after acquiring an additional 25 shares during the period. CVA Family Office LLC’s holdings in Lam Research were worth $62,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Synovus Financial Corp boosted its stake in Lam Research by 0.6% during the 4th quarter. Synovus Financial Corp now owns 2,948 shares of the semiconductor company’s stock valued at $2,116,000 after purchasing an additional 17 shares during the period. Stonebridge Capital Advisors LLC boosted its stake in Lam Research by 100.0% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 19 shares during the period. Marietta Investment Partners LLC boosted its stake in Lam Research by 0.7% during the 4th quarter. Marietta Investment Partners LLC now owns 3,003 shares of the semiconductor company’s stock valued at $2,160,000 after purchasing an additional 20 shares during the period. Vectors Research Management LLC boosted its stake in Lam Research by 133.3% during the 4th quarter. Vectors Research Management LLC now owns 35 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 20 shares during the period. Finally, Glassman Wealth Services raised its position in shares of Lam Research by 23.6% during the 4th quarter. Glassman Wealth Services now owns 110 shares of the semiconductor company’s stock worth $79,000 after buying an additional 21 shares in the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on LRCX shares. B. Riley downgraded shares of Lam Research from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $625.00 to $525.00 in a research report on Wednesday, June 15th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Lam Research from $560.00 to $480.00 in a research report on Monday, July 18th. Wells Fargo & Company boosted their price target on shares of Lam Research from $460.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. Morgan Stanley dropped their price target on shares of Lam Research from $550.00 to $543.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 6th. Finally, Cowen dropped their target price on shares of Lam Research from $800.00 to $620.00 in a report on Thursday, July 28th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lam Research currently has a consensus rating of “Hold” and an average price target of $610.30.

Lam Research Stock Performance

Lam Research stock opened at $409.22 on Tuesday. The firm’s 50 day simple moving average is $461.43 and its 200-day simple moving average is $474.78. The company has a market cap of $56.06 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 0.93 and a beta of 1.36. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.69 and a quick ratio of 1.82. Lam Research Co. has a fifty-two week low of $375.87 and a fifty-two week high of $731.85.

Lam Research (NASDAQ:LRCXGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The semiconductor company reported $8.83 EPS for the quarter, beating analysts’ consensus estimates of $7.30 by $1.53. Lam Research had a net margin of 26.73% and a return on equity of 75.71%. The firm had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the firm posted $8.09 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. As a group, equities research analysts predict that Lam Research Co. will post 37.31 EPS for the current year.

Lam Research Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th will be given a dividend of $1.725 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This is an increase from Lam Research’s previous quarterly dividend of $1.50. This represents a $6.90 dividend on an annualized basis and a yield of 1.69%. Lam Research’s payout ratio is presently 21.07%.

About Lam Research

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Co. (NASDAQ:LRCXGet Rating).

Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.