Crossmark Global Holdings Inc. Sells 13,099 Shares of Lam Research Corporation (NASDAQ:LRCX)

Crossmark Global Holdings Inc. trimmed its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 9.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,616 shares of the semiconductor company's stock after selling 13,099 shares during the period. Crossmark Global Holdings Inc.'s holdings in Lam Research were worth $9,060,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Huntington National Bank increased its stake in Lam Research by 944.0% in the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock valued at $21,291,000 after purchasing an additional 266,527 shares in the last quarter. Cerity Partners LLC increased its stake in Lam Research by 781.9% in the fourth 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. bought a new stake in Lam Research in the fourth quarter valued at approximately $6,296,000. Pitcairn Co. bought a new stake in Lam Research in the fourth quarter valued at approximately $1,013,000. Finally, First Citizens Bank & Trust Co. increased its stake in Lam Research by 47.8% in the first quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company's stock valued at $8,862,000 after purchasing an additional 39,414 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Needham & Company LLC lowered their target price on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. B. Riley reiterated a "buy" rating and issued a $115.00 price target (up previously from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Evercore ISI upped their price target on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Wells Fargo & Company reduced their price target on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Finally, Bank of America reduced their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Seven 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 company's stock. Based on data from MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and a consensus target price of $95.10.

Lam Research Stock Performance

Shares of LRCX stock opened at $98.14 on Tuesday. The stock has a market cap of $125.53 billion, a P/E ratio of 27.35, a P/E/G ratio of 1.39 and a beta of 1.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The company has a fifty day moving average price of $86.23 and a two-hundred day moving average price of $79.21. Lam Research Corporation has a one year low of $56.32 and a one year high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating 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 net margin of 27.18% and a return on equity of 53.21%. The company's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter last year, the company posted $7.79 earnings per share. As a group, equities analysts predict that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio is currently 25.63%.

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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