Salem Investment Counselors Inc. Grows Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Salem Investment Counselors Inc. increased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 5.5% during the first quarter, HoldingsChannel.com reports. The fund owned 4,716 shares of the semiconductor company’s stock after acquiring an additional 246 shares during the period. Salem Investment Counselors Inc.’s holdings in Lam Research were worth $344,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fairway Wealth LLC increased its holdings in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 306 shares during the period. Financial Perspectives Inc boosted its stake in Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 309 shares in the last quarter. West Paces Advisors Inc. purchased a new stake in shares of Lam Research in the 4th quarter worth approximately $27,000. Mpwm Advisory Solutions LLC purchased a new stake in Lam Research during the 4th quarter valued at about $27,000. Finally, Midwest Capital Advisors LLC purchased a new position in Lam Research in the 4th quarter worth approximately $27,000. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LRCX has been the subject of a number of research reports. TD Cowen 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. Barclays dropped their target price on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Mizuho lifted their price objective on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Jefferies Financial Group raised their price target on Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, March 28th. Finally, UBS Group decreased their target price on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lam Research has an average rating of “Moderate Buy” and an average target price of $90.87.

Lam Research Trading Down 2.3%

NASDAQ LRCX opened at $89.52 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. The company has a market cap 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. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00. The company has a 50-day moving average of $77.13 and a 200-day moving average of $76.97.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the business posted $7.79 EPS. The company’s revenue was up 24.4% on a year-over-year basis. As a group, equities analysts predict that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a $0.23 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.03%. Lam Research’s payout ratio is currently 25.63%.

Lam Research Company 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.