Toroso Investments LLC Boosts Stake in Lam Research Co. (NASDAQ:LRCX)

Toroso Investments LLC increased its position in shares of Lam Research Co. (NASDAQ:LRCXGet Rating) by 16.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,134 shares of the semiconductor company’s stock after purchasing an additional 573 shares during the quarter. Toroso Investments LLC’s holdings in Lam Research were worth $2,222,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LRCX. Vectors Research Management LLC raised its holdings in Lam Research by 133.3% during the fourth quarter. Vectors Research Management LLC now owns 35 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 20 shares during the last quarter. Stonebridge Capital Advisors LLC raised its holdings in Lam Research by 100.0% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 19 shares during the last quarter. Capital Advisory Group Advisory Services LLC acquired a new position in Lam Research during the first quarter worth $27,000. OLD Second National Bank of Aurora acquired a new position in Lam Research during the first quarter worth $27,000. Finally, Delos Wealth Advisors LLC acquired a new position in Lam Research during the fourth quarter worth $30,000. 80.09% of the stock is owned by institutional investors and hedge funds.

Lam Research Stock Down 2.0 %

Shares of Lam Research stock opened at $413.44 on Friday. Lam Research Co. has a twelve month low of $375.87 and a twelve month high of $731.85. The stock has a market capitalization of $56.64 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 0.96 and a beta of 1.36. The business’s 50 day simple moving average is $461.58 and its 200-day simple moving average is $477.75. The company has a current ratio of 2.69, a quick ratio of 1.82 and a debt-to-equity ratio of 0.80.

Lam Research (NASDAQ:LRCXGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.30 by $1.53. Lam Research had a return on equity of 75.71% and a net margin of 26.73%. The business had revenue of $4.64 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the company posted $8.09 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities research analysts forecast that Lam Research Co. will post 37.31 earnings per share for the current year.

Lam Research Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th will be paid a dividend of $1.725 per share. This is a positive change from Lam Research’s previous quarterly dividend of $1.50. This represents a $6.90 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, September 13th. Lam Research’s dividend payout ratio (DPR) is presently 21.07%.

Analysts Set New Price Targets

LRCX has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on Lam Research from $560.00 to $480.00 in a report on Monday, July 18th. UBS Group boosted their price target on Lam Research from $510.00 to $530.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Wells Fargo & Company boosted their price target on Lam Research from $460.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. StockNews.com cut Lam Research from a “buy” rating to a “hold” rating in a report on Friday, September 2nd. Finally, DA Davidson cut their price target on Lam Research from $575.00 to $550.00 in a report on Thursday, July 28th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Lam Research has a consensus rating of “Hold” and an average target price of $610.30.

About Lam Research

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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.

See Also

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

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