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Alpine Woods Capital Investors LLC Has $1.26 Million Holdings in Lam Research Corporation (NASDAQ:LRCX)

Lam Research logo with Computer and Technology background

Alpine Woods Capital Investors LLC cut its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 48.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,287 shares of the semiconductor company's stock after selling 16,052 shares during the quarter. Alpine Woods Capital Investors LLC's holdings in Lam Research were worth $1,257,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Huntington National Bank lifted its position in Lam Research by 944.0% during the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock worth $21,291,000 after acquiring an additional 266,527 shares in the last quarter. Cerity Partners LLC raised its position in shares of Lam Research by 781.9% in the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock valued at $23,920,000 after purchasing an additional 293,619 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Lam Research in the 4th quarter valued at approximately $6,296,000. Pinnacle Financial Partners Inc acquired a new position in shares of Lam Research in the 1st quarter valued at approximately $201,000. Finally, Pitcairn Co. acquired a new position in shares of Lam Research in the 4th quarter valued at approximately $1,013,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LRCX has been the topic of a number of recent analyst reports. Barclays cut their target price on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Argus upgraded Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Oppenheimer reiterated an "outperform" rating and issued a $110.00 price target (up from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. Morgan Stanley boosted their price target on Lam Research from $82.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Finally, Citigroup restated a "buy" rating and set a $108.00 price objective (up from $87.00) on shares of Lam Research in a research note on Monday. 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $97.48.

View Our Latest Report on LRCX

Lam Research Stock Up 0.8%

Shares of Lam Research stock traded up $0.84 on Friday, reaching $101.90. 3,386,510 shares of the company were exchanged, compared to its average volume of 12,327,390. Lam Research Corporation has a one year low of $56.32 and a one year high of $113.00. The company has a market capitalization of $130.34 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 1.41 and a beta of 1.68. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $87.96 and a 200 day moving average of $79.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly 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 53.21% and a net margin of 27.18%. The business had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter in the prior year, the business earned $7.79 EPS. The firm's revenue for the quarter was up 24.4% on a year-over-year basis. On average, equities research analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.90%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Lam Research Profile

(Free Report)

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.

Further Reading

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

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