Lam Research Corporation (NASDAQ:LRCX) Shares Sold by Aviance Capital Partners LLC

Aviance Capital Partners LLC cut its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 15.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,403 shares of the semiconductor company's stock after selling 15,166 shares during the quarter. Lam Research makes up 0.8% of Aviance Capital Partners LLC's investment portfolio, making the stock its 25th largest position. Aviance Capital Partners LLC's holdings in Lam Research were worth $5,991,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairway Wealth LLC grew its holdings in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in Lam Research in the first quarter valued at approximately $26,000. West Paces Advisors Inc. purchased a new stake in Lam Research in the fourth quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC purchased a new stake in Lam Research in the fourth quarter valued at approximately $27,000. Finally, Bell Investment Advisors Inc grew its holdings in 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 during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Down 0.2%

LRCX traded down $0.17 during trading hours on Friday, reaching $98.66. 5,028,931 shares of the stock traded hands, compared to its average volume of 12,373,875. The firm's fifty day simple moving average is $85.70 and its two-hundred day simple moving average is $78.97. The company has a market cap of $126.20 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.39 and a beta of 1.68. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. 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 (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The company's revenue was up 24.4% on a year-over-year basis. During the same period last year, the firm earned $7.79 earnings per share. As a group, analysts forecast that Lam Research Corporation will post 3.71 earnings per share 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 paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.93%. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LRCX. Cantor Fitzgerald reissued an "overweight" rating and set a $115.00 price objective (up from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. TD Cowen lowered their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Barclays lowered their price target on Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Bank of America lowered their price target 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, Evercore ISI boosted their target price on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Seven 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $94.20.

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.