Diversify Advisory Services LLC Decreases Holdings in Lam Research Corporation (NASDAQ:LRCX)

Diversify Advisory Services LLC decreased its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 23.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,629 shares of the semiconductor company's stock after selling 8,641 shares during the period. Diversify Advisory Services LLC's holdings in Lam Research were worth $2,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Smallwood Wealth Investment Management LLC bought a new position in shares of Lam Research during the 1st quarter valued at about $26,000. West Paces Advisors Inc. bought a new stake in Lam Research in the fourth quarter worth about $27,000. Mpwm Advisory Solutions LLC bought a new stake in Lam Research in the fourth quarter worth about $27,000. Park Square Financial Group LLC bought a new stake in Lam Research in the fourth quarter worth about $31,000. Finally, Cedar Wealth Management LLC bought a new stake in Lam Research in the fourth quarter worth about $34,000. Institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on LRCX shares. Evercore ISI raised their price objective on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Citigroup reaffirmed a "buy" rating and set a $108.00 target price (up from $87.00) on shares of Lam Research in a research report on Monday, July 7th. Oppenheimer reaffirmed an "outperform" rating and set a $110.00 target price (up from $80.00) on shares of Lam Research in a research report on Tuesday, June 17th. B. Riley reissued a "buy" rating and set a $115.00 price objective (up from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Finally, Wells Fargo & Company lifted their price target on shares of Lam Research from $75.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Seven equities research 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.14.

Lam Research Price Performance

Shares of Lam Research stock traded up $0.28 during trading hours on Friday, reaching $101.07. The stock had a trading volume of 2,183,042 shares, compared to its average volume of 12,303,822. The stock's 50 day moving average is $90.60 and its 200 day moving average is $80.62. The firm has a market capitalization of $129.27 billion, a PE ratio of 28.13, a PEG ratio of 1.42 and a beta of 1.68. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $102.19. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings results 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 the consensus estimate of $4.64 billion. During the same quarter in the prior year, the firm earned $7.79 EPS. The company's revenue for the quarter was up 24.4% on a year-over-year basis. Equities analysts expect 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 was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.91%. Lam Research's payout ratio is 25.63%.

About Lam Research

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.

Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Corporation (NASDAQ:LRCX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.