Avanza Fonder AB Cuts Stake in Lam Research Co. (NASDAQ:LRCX)

Avanza Fonder AB trimmed its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 12.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,734 shares of the semiconductor company's stock after selling 14,890 shares during the period. Avanza Fonder AB's holdings in Lam Research were worth $8,022,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Centerpoint Advisors LLC increased its holdings in Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company's stock worth $72,000 after purchasing an additional 900 shares in the last quarter. Huntington National Bank increased its holdings in shares of Lam Research by 944.0% during the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock valued at $21,291,000 after acquiring an additional 266,527 shares in the last quarter. ICICI Prudential Asset Management Co Ltd raised its position in shares of Lam Research by 1,401.1% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 70,475 shares of the semiconductor company's stock worth $5,090,000 after purchasing an additional 65,780 shares during the period. Cerity Partners LLC lifted its holdings 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 worth $23,920,000 after purchasing an additional 293,619 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Lam Research in the 4th quarter valued at $6,296,000. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Down 0.1%

Shares of NASDAQ:LRCX traded down $0.05 during trading on Wednesday, hitting $90.95. The stock had a trading volume of 10,640,370 shares, compared to its average volume of 12,311,719. The company has a market capitalization of $116.34 billion, a PE ratio of 27.63, a PEG ratio of 1.47 and a beta of 1.65. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The firm's fifty day moving average is $75.32 and its 200 day moving average is $76.63. Lam Research Co. has a 12 month low of $56.32 and a 12 month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company's revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter last year, the firm posted $7.79 earnings per share. Analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm 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 $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LRCX. Susquehanna raised shares of Lam Research from a "neutral" rating to a "positive" rating and raised their price objective for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 price target on shares of Lam Research in a research report on Thursday, April 24th. Needham & Company LLC decreased their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Evercore ISI raised their target price on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Stifel Nicolaus cut their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to 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.