MUFG Securities EMEA plc Boosts Stake in Lam Research Corporation (NASDAQ:LRCX)
MUFG Securities EMEA plc increased its stake in Lam Research Corporation (NASDAQ:LRCX) by 114% in Q1, owning 121,999 shares valued at $8.87 million. Other investors also acquired stakes in the company. Lam Research reported Q2 earnings of $1.33 EPS, exceeding estimates, with revenue of $5.17 billion, a 33.6% year-over-year increase. The company announced a quarterly dividend of $0.23. Analysts have raised price targets for Lam Research, with a consensus rating of "Moderate Buy" and a target price of $107.09.
MUFG Securities EMEA plc grew its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 114.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 121,999 shares of the semiconductor company's stock after purchasing an additional 64,999 shares during the quarter. MUFG Securities EMEA plc's holdings in Lam Research were worth $8,869,000 at the end of the most recent quarter.
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A number of other large investors also recently made changes to their positions in the business. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Lam Research during the 1st quarter worth $26,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research during the 4th quarter worth $27,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Lam Research during the 4th quarter worth $27,000. Park Square Financial Group LLC acquired a new stake in shares of Lam Research during the 4th quarter worth $31,000. Finally, Putney Financial Group LLC acquired a new stake in shares of Lam Research during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 84.61% of the company's stock.
Lam Research Stock Performance
Shares of NASDAQ LRCX opened at $101.75 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38. The firm's 50-day moving average price is $95.53 and its two-hundred day moving average price is $83.03. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $102.59. The stock has a market capitalization of $130.15 billion, a P/E ratio of 24.46, a P/E/G ratio of 1.29 and a beta of 1.65.
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Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The firm had revenue of $5.17 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter last year, the company posted $1.03 earnings per share. Lam Research's revenue was up 33.6% on a year-over-year basis. As a group, sell-side analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current year.
Lam Research Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.9%. Lam Research's dividend payout ratio (DPR) is currently 22.12%.
Wall Street Analysts Forecast Growth
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LRCX has been the subject of a number of research analyst reports. Raymond James Financial upped their price objective on Lam Research from $90.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. UBS Group upped their price objective on Lam Research from $95.00 to $120.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on Lam Research and gave the company a "hold" rating in a research report on Thursday, April 24th. Morgan Stanley raised their price objective on Lam Research from $87.00 to $94.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen raised Lam Research from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and a consensus price target of $107.09.
Check Out Our Latest Analysis on Lam Research
Lam Research Profile
(Free Report)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.
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