Abacus FCF Advisors LLC Has $3.10 Million Position in Lam Research Co. (NASDAQ:LRCX)

Abacus FCF Advisors LLC lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 64.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,615 shares of the semiconductor company's stock after selling 75,607 shares during the period. Abacus FCF Advisors LLC's holdings in Lam Research were worth $3,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Walker Asset Management LLC grew its stake in shares of Lam Research by 7.8% in the 1st quarter. Walker Asset Management LLC now owns 3,862 shares of the semiconductor company's stock worth $281,000 after purchasing an additional 281 shares during the last quarter. SJS Investment Consulting Inc. lifted its position in shares of Lam Research by 363.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 602 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 472 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Lam Research by 21.5% during the first quarter. GAMMA Investing LLC now owns 29,408 shares of the semiconductor company's stock valued at $2,138,000 after buying an additional 5,213 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new position in shares of Lam Research in the 1st quarter valued at about $3,973,000. Finally, Parisi Gray Wealth Management increased its stake in Lam Research by 9.7% in the 1st quarter. Parisi Gray Wealth Management now owns 9,164 shares of the semiconductor company's stock valued at $666,000 after buying an additional 814 shares during the period. Institutional investors own 84.61% of the company's stock.

Lam Research Stock Performance

Shares of LRCX traded down $0.05 during trading hours on Wednesday, reaching $90.95. 10,640,370 shares of the company traded hands, compared to its average volume of 12,311,719. The stock has a market cap of $116.34 billion, a P/E ratio of 27.63, a price-to-earnings-growth 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. Lam Research Co. has a 1-year low of $56.32 and a 1-year high of $113.00. The stock's fifty day moving average is $75.32 and its 200 day moving average is $76.63.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. During the same period last year, the business earned $7.79 earnings per share. Lam Research'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 fiscal year.

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. Jefferies Financial Group boosted their price target on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Oppenheimer cut their price objective on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Argus raised shares of Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Mizuho increased their price target on shares of Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $90.87.

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.