Lam Research Corporation (NASDAQ:LRCX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 6.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,684 shares of the semiconductor company's stock after selling 15,818 shares during the period. Allspring Global Investments Holdings LLC's holdings in Lam Research were worth $16,582,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Fairway Wealth LLC boosted its position in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after buying an additional 306 shares in the last quarter. West Paces Advisors Inc. acquired a new position in Lam Research during the fourth quarter worth about $27,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Lam Research in the fourth quarter valued at about $27,000. Bell Investment Advisors Inc lifted its holdings in shares of Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 343 shares in the last quarter. Finally, Avalon Trust Co grew its position in shares of Lam Research by 791.3% in the fourth quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 364 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on LRCX. B. Riley restated a "buy" rating and set a $115.00 price objective (up from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Stifel Nicolaus cut their price target on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Argus raised Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. Bank of America dropped their price objective on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company reduced their target price on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $94.20.

Lam Research Trading Down 0.2%

LRCX stock traded down $0.17 during midday trading on Thursday, reaching $98.66. 5,028,931 shares of the company's stock traded hands, compared to its average volume of 12,314,748. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The business has a 50-day moving average price of $84.60 and a two-hundred day moving average price of $78.66. The company has a market capitalization of $126.20 billion, a P/E ratio of 27.50, a PEG ratio of 1.37 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates 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 53.21% and a net margin of 27.18%. Lam Research's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.79 EPS. Equities research analysts forecast that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.93%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend 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.