Brentview Investment Management LLC Purchases 2,067 Shares of Lam Research Corporation (NASDAQ:LRCX)

Brentview Investment Management LLC increased its holdings in Lam Research Corporation (NASDAQ:LRCX) by 4.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,302 shares of the semiconductor company’s stock after acquiring an additional 2,067 shares during the quarter. Lam Research comprises about 1.9% of Brentview Investment Management LLC’s investment portfolio, making the stock its 29th biggest holding. Brentview Investment Management LLC’s holdings in Lam Research were worth $3,584,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Huntington National Bank grew its holdings in shares of Lam Research by 944.0% during the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company’s stock valued at $21,291,000 after buying an additional 266,527 shares during the last quarter. Pinnacle Financial Partners Inc purchased a new stake in Lam Research in the first quarter worth approximately $201,000. Cerity Partners LLC boosted its holdings in Lam Research by 781.9% in the fourth quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company’s stock worth $23,920,000 after purchasing an additional 293,619 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Lam Research in the 4th quarter worth $6,296,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of Lam Research by 27.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company’s stock worth $3,607,000 after buying an additional 10,565 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Up 0.2%

LRCX stock opened at $99.09 on Thursday. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $102.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The company has a market capitalization of $126.75 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 1.40 and a beta of 1.68. The firm’s fifty day simple moving average is $93.41 and its 200-day simple moving average is $82.09.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. The business’s quarterly revenue was up 33.6% compared to the same quarter last year. As a group, equities research analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.93%. The ex-dividend date was Wednesday, June 18th. Lam Research’s payout ratio is 25.63%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LRCX shares. KeyCorp raised their target price on Lam Research from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. B. Riley reiterated a “buy” rating and set a $115.00 price target (up previously from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. The Goldman Sachs Group assumed coverage on Lam Research in a research report on Thursday, July 10th. They set a “buy” rating and a $115.00 target price on the stock. Needham & Company LLC lowered their price objective on Lam Research from $96.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Citigroup reaffirmed a “buy” rating and set a $108.00 price objective (up from $87.00) on shares of Lam Research in a research report on Monday, July 7th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $102.05.

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.