Blair William & Co. IL Sells 10,280 Shares of Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Blair William & Co. IL sold 10,280 shares of Lam Research Corporation, reducing their stake by 16.0%, and now owns 53,832 shares valued at approximately $3.91 million.
• Lam Research reported earnings of $1.33 per share, exceeding analyst expectations, with revenue of $5.17 billion, marking a 33.6% increase year-over-year.
• The company announced a dividend of $0.23 per share with a yield of 0.9% and a payout ratio of 22.12% during the last quarter.

Blair William & Co. IL lessened its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 16.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,832 shares of the semiconductor company's stock after selling 10,280 shares during the period. Blair William & Co. IL's holdings in Lam Research were worth $3,914,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC acquired a new position in shares of Lam Research during the first quarter worth approximately $26,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research in the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC acquired a new position in Lam Research in the fourth quarter valued at about $27,000. Park Square Financial Group LLC bought a new stake in Lam Research during the 4th quarter worth approximately $31,000. Finally, Putney Financial Group LLC bought a new stake in shares of Lam Research during the fourth quarter worth $36,000. Institutional investors own 84.61% of the company's stock.

Lam Research Trading Up 3.3%

Shares of Lam Research stock opened at $99.15 on Friday. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $102.59. The stock has a market cap of $126.82 billion, a PE ratio of 23.83, a PEG ratio of 1.24 and a beta of 1.65. The firm has a 50-day moving average of $95.10 and a 200-day moving average of $82.89. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The business's revenue was up 33.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 EPS. As a group, sell-side analysts forecast that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio is 22.12%.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of research reports. Argus raised their price target on shares of Lam Research from $105.00 to $120.00 and gave the company a "buy" rating in a report on Friday, August 1st. The Goldman Sachs Group began coverage on shares of Lam Research in a research note on Thursday, July 10th. They set a "buy" rating and a $115.00 price objective on the stock. UBS Group boosted their target price on Lam Research from $95.00 to $120.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Citigroup increased their price objective on shares of Lam Research from $108.00 to $113.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Summit Insights downgraded Lam Research from a "buy" rating to a "hold" rating in a report on Thursday, July 31st. Seven research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $107.09.

Lam Research 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.

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