Oppenheimer & Co. Inc. Buys 1,432 Shares of Lam Research Corporation (NASDAQ:LRCX)

Oppenheimer & Co. Inc. boosted its holdings in Lam Research Corporation (NASDAQ:LRCX) by 6.7% in the first quarter, Holdings Channel reports. The institutional investor owned 22,753 shares of the semiconductor company’s stock after buying an additional 1,432 shares during the period. Oppenheimer & Co. Inc.’s holdings in Lam Research were worth $1,654,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Investment Partners Asset Management Inc. grew its position in shares of Lam Research by 5.4% during the 1st quarter. Investment Partners Asset Management Inc. now owns 4,373 shares of the semiconductor company’s stock worth $318,000 after buying an additional 226 shares during the period. Childress Capital Advisors LLC boosted its holdings in Lam Research by 6.1% during the 1st quarter. Childress Capital Advisors LLC now owns 4,178 shares of the semiconductor company’s stock worth $304,000 after acquiring an additional 240 shares during the last quarter. Salem Investment Counselors Inc. boosted its holdings in Lam Research by 5.5% during the 1st quarter. Salem Investment Counselors Inc. now owns 4,716 shares of the semiconductor company’s stock worth $344,000 after acquiring an additional 246 shares during the last quarter. Legacy Wealth Asset Management LLC grew its position in Lam Research by 1.9% during the first quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company’s stock valued at $963,000 after buying an additional 248 shares during the period. Finally, ORG Partners LLC grew its position in shares of Lam Research by 19.2% during the 1st quarter. ORG Partners LLC now owns 1,562 shares of the semiconductor company’s stock valued at $114,000 after acquiring an additional 252 shares during the period. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LRCX. Jefferies Financial Group increased their target price on shares of Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, March 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $115.00 price target (up from $90.00) on shares of Lam Research in a report on Tuesday. Stifel Nicolaus lowered their price objective on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Argus raised shares of Lam Research to a “strong-buy” rating in a report on Friday, April 25th. Finally, Evercore ISI raised their price target on shares of Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.97.

Lam Research Price Performance

Shares of LRCX opened at $97.20 on Friday. The firm has a market cap of $124.33 billion, a PE ratio of 27.09, a P/E/G ratio of 1.36 and a beta of 1.65. 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 firm has a fifty day simple moving average of $82.59 and a two-hundred day simple moving average of $78.22. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $113.00.

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

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.95%. The ex-dividend date is Wednesday, June 18th. Lam Research’s dividend payout ratio is currently 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.