Sendero Wealth Management LLC Buys 971 Shares of Lam Research Co. (NASDAQ:LRCX)

Sendero Wealth Management LLC raised its position in Lam Research Co. (NASDAQ:LRCX) by 34.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,792 shares of the semiconductor company’s stock after buying an additional 971 shares during the quarter. Sendero Wealth Management LLC’s holdings in Lam Research were worth $276,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in LRCX. Vanguard Group Inc. grew its position in 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 acquiring an additional 108,619,564 shares during the last quarter. FMR LLC increased its holdings in Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares during the period. Ameriprise Financial Inc. grew its position 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 last quarter. Geode Capital Management LLC increased its stake in shares of Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock valued at $2,265,610,000 after buying an additional 28,307,499 shares during the period. Finally, Norges Bank bought a new position in Lam Research during the 4th quarter worth approximately $1,661,672,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $84.77 on Thursday. The stock has a fifty day moving average of $74.00 and a 200-day moving average of $76.14. The stock has a market cap of $108.43 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. 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 posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the firm earned $7.79 EPS. The company’s quarterly revenue was up 24.4% compared to the same quarter last year. Equities research analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.09%. The ex-dividend date is Wednesday, June 18th. Lam Research’s dividend payout ratio is presently 25.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LRCX shares. UBS Group lowered their target price on Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, April 14th. Evercore ISI increased their price objective on shares of Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Bank of America lowered their price objective on shares of Lam Research from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Finally, Wells Fargo & Company decreased their price target on Lam Research from $85.00 to $75.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.56.

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.