McBroom & Associates LLC Increases Stock Position in Lam Research Co. (NASDAQ:LRCX)

McBroom & Associates LLC increased its position in Lam Research Co. (NASDAQ:LRCX) by 2.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,295 shares of the semiconductor company’s stock after acquiring an additional 1,743 shares during the period. Lam Research comprises approximately 3.7% of McBroom & Associates LLC’s holdings, making the stock its 13th largest position. McBroom & Associates LLC’s holdings in Lam Research were worth $6,492,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Lam Research by 892.7% in the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after acquiring an additional 108,619,564 shares during the last quarter. FMR LLC raised its holdings 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 worth $2,891,453,000 after acquiring an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Lam Research by 950.5% in the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock worth $2,495,128,000 after acquiring an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC raised its holdings in Lam Research by 907.1% in the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after acquiring an additional 28,307,499 shares during the last quarter. Finally, Norges Bank purchased a new position in Lam Research in the 4th quarter worth approximately $1,661,672,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LRCX has been the subject of a number of research reports. Needham & Company LLC decreased their target price on shares of Lam Research from $96.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus decreased their target price on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Bank of America decreased their target price on shares of Lam Research from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Susquehanna upgraded shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Finally, TD Securities decreased their target price on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $90.87.

Lam Research Trading Down 2.3%

Shares of Lam Research stock opened at $89.52 on Friday. The company has a market capitalization of $114.51 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.47 and a beta of 1.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The company has a fifty day moving average of $77.13 and a 200 day moving average of $77.01. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the firm posted $7.79 EPS. Lam Research’s quarterly revenue was up 24.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.03%. Lam Research’s dividend payout ratio (DPR) is 25.63%.

About Lam Research

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.