First Business Financial Services Inc. Boosts Stake in Lam Research Corporation (NASDAQ:LRCX)

First Business Financial Services Inc. increased its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 6.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,433 shares of the semiconductor company’s stock after buying an additional 1,848 shares during the period. First Business Financial Services Inc.’s holdings in Lam Research were worth $2,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of LRCX. Vanguard Group Inc. increased its holdings in shares of Lam Research by 892.7% during the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after buying an additional 108,619,564 shares during the last quarter. FMR LLC boosted its position in Lam Research by 1,032.6% in the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after buying an additional 36,496,689 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Lam Research by 950.5% in the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock valued at $2,495,128,000 after buying an additional 31,255,726 shares during the period. Geode Capital Management LLC grew its stake 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 in the last quarter. Finally, Norges Bank acquired a new position in Lam Research in the fourth quarter valued at approximately $1,661,672,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $99.62 on Tuesday. The stock has a 50 day simple moving average of $89.02 and a 200-day simple moving average of $80.14. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The company has a market cap of $127.43 billion, a PE ratio of 27.76, a P/E/G ratio of 1.44 and a beta of 1.68. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $108.23.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the firm posted $7.79 earnings per share. The business’s revenue was up 24.4% on a year-over-year basis. On average, equities research analysts forecast that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.92%. Lam Research’s dividend payout ratio (DPR) is presently 25.63%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LRCX. The Goldman Sachs Group assumed coverage on Lam Research in a research report on Thursday, July 10th. They issued a “buy” rating and a $115.00 price target on the stock. Evercore ISI upped their price objective on Lam Research from $95.00 to $99.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $115.00 price target (up from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. Bank of America decreased their target price 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, Argus upgraded Lam Research to a “strong-buy” rating in a report on Friday, April 25th. 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 MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and an average target price of $98.19.

Lam Research 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.