Intercontinental Wealth Advisors LLC Acquires 22 Shares of Lam Research Co. (NASDAQ:LRCX)

Intercontinental Wealth Advisors LLC grew its holdings in Lam Research Co. (NASDAQ:LRCXGet Rating) by 3.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 711 shares of the semiconductor company’s stock after acquiring an additional 22 shares during the quarter. Intercontinental Wealth Advisors LLC’s holdings in Lam Research were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of LRCX. Missouri Trust & Investment Co bought a new stake in shares of Lam Research in the fourth quarter valued at approximately $25,000. Allegheny Financial Group LTD acquired a new position in shares of Lam Research in the fourth quarter valued at $25,000. Vectors Research Management LLC raised its stake in shares of Lam Research by 133.3% in the fourth quarter. Vectors Research Management LLC now owns 35 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 20 shares in the last quarter. Stonebridge Capital Advisors LLC raised its stake in shares of Lam Research by 100.0% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 19 shares in the last quarter. Finally, Capital Advisory Group Advisory Services LLC acquired a new position in shares of Lam Research in the first quarter valued at $27,000. 82.34% of the stock is owned by institutional investors.

Lam Research Price Performance

Lam Research stock opened at $519.97 on Friday. The business’s 50-day simple moving average is $457.55 and its 200 day simple moving average is $501.33. The stock has a market cap of $72.13 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 1.20 and a beta of 1.33. Lam Research Co. has a 12-month low of $375.87 and a 12-month high of $731.85. The company has a quick ratio of 1.82, a current ratio of 2.69 and a debt-to-equity ratio of 0.80.

Lam Research (NASDAQ:LRCXGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.30 by $1.53. The business had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.21 billion. Lam Research had a return on equity of 75.71% and a net margin of 26.73%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $8.09 earnings per share. As a group, research analysts anticipate that Lam Research Co. will post 37.6 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 6th. Shareholders of record on Wednesday, June 15th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Tuesday, June 14th. Lam Research’s dividend payout ratio (DPR) is currently 18.32%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LRCX shares. Jefferies Financial Group cut their target price on Lam Research from $869.00 to $670.00 in a research note on Friday, April 22nd. Cowen dropped their price objective on Lam Research from $800.00 to $620.00 in a research note on Thursday, July 28th. Cowen dropped their price objective on Lam Research from $800.00 to $620.00 in a research note on Thursday, July 28th. B. Riley lowered Lam Research from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $625.00 to $525.00 in a research note on Wednesday, June 15th. Finally, Mizuho dropped their price objective on Lam Research from $725.00 to $675.00 and set a “buy” rating for the company in a research note on Thursday, April 21st. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Lam Research currently has an average rating of “Hold” and a consensus price target of $613.32.

About Lam Research

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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.

See Also

Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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