Deroy & Devereaux Private Investment Counsel Inc. Sells 2,901 Shares of Lam Research Corporation (NASDAQ:LRCX)

Deroy & Devereaux Private Investment Counsel Inc. trimmed its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 262,958 shares of the semiconductor company's stock after selling 2,901 shares during the quarter. Deroy & Devereaux Private Investment Counsel Inc.'s holdings in Lam Research were worth $19,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Fairway Wealth LLC boosted its position in shares of Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 306 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in Lam Research in the 1st quarter worth $26,000. West Paces Advisors Inc. bought a new position in shares of Lam Research during the 4th quarter worth about $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of Lam Research during the 4th quarter worth about $27,000. Finally, Bell Investment Advisors Inc raised its position in shares of Lam Research by 836.6% during the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after buying an additional 343 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stifel Nicolaus lowered their price target on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. TD Securities lowered their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley raised their target price on Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday. UBS Group decreased their price target on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Needham & Company LLC dropped their price objective 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. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.20.

Lam Research Price Performance

LRCX traded down $0.17 during midday trading on Friday, hitting $98.66. The company had a trading volume of 5,028,931 shares, compared to its average volume of 12,346,776. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $113.00. The firm's 50-day simple moving average is $85.15 and its 200-day simple moving average is $78.80. The company has a market capitalization of $126.20 billion, a PE ratio of 27.50, 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 quick ratio of 1.64 and a current ratio of 2.45.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter in the previous year, the company posted $7.79 EPS. Lam Research's revenue was up 24.4% on a year-over-year basis. Equities research analysts predict that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.93%. Lam Research's payout ratio is 25.63%.

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.