Ethic Inc. Decreases Holdings in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Ethic Inc. has reduced its holdings in Lam Research Corporation by 2.4%, owning 183,690 shares valued at approximately $13.38 million after selling 4,516 shares.
• Multiple institutional investors increased their positions in Lam Research, with notable raises from EverSource Wealth Advisors (39.8% increase) and Horizon Investments (110.6% increase).
• Lam Research recently reported earnings of $1.33 per share, exceeding expectations, while its revenue grew by 33.6% year-on-year, reaching $5.17 billion for the quarter.

Ethic Inc. lowered its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 2.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 183,690 shares of the semiconductor company's stock after selling 4,516 shares during the period. Ethic Inc.'s holdings in Lam Research were worth $13,378,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LRCX. EverSource Wealth Advisors LLC raised its position in Lam Research by 39.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,916 shares of the semiconductor company's stock worth $430,000 after buying an additional 1,685 shares during the last quarter. Horizon Investments LLC lifted its holdings in shares of Lam Research by 110.6% during the 1st quarter. Horizon Investments LLC now owns 48,734 shares of the semiconductor company's stock worth $3,543,000 after acquiring an additional 25,593 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in shares of Lam Research by 70.1% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 2,378,223 shares of the semiconductor company's stock worth $172,897,000 after acquiring an additional 979,708 shares during the period. Cookson Peirce & Co. Inc. purchased a new position in shares of Lam Research during the 1st quarter worth about $607,000. Finally, OneAscent Investment Solutions LLC purchased a new position in shares of Lam Research during the 1st quarter worth about $245,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LRCX shares. TD Cowen increased their price objective on shares of Lam Research from $100.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Summit Insights lowered shares of Lam Research from a "buy" rating to a "hold" rating in a report on Thursday, July 31st. Wells Fargo & Company set a $98.00 price target on shares of Lam Research and gave the company an "equal weight" rating in a report on Thursday, July 31st. Wall Street Zen upgraded shares of Lam Research from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Evercore ISI raised 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. Seven research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and an average target price of $107.09.

Lam Research Price Performance

Shares of NASDAQ LRCX opened at $107.38 on Friday. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $108.02. The firm's 50-day simple moving average is $97.24 and its 200 day simple moving average is $83.73. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38. The stock has a market cap of $135.90 billion, a P/E ratio of 25.81, a P/E/G ratio of 1.38 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last released 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 return on equity of 58.17% and a net margin of 29.07%. Lam Research's revenue was up 33.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. Equities analysts expect that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were paid 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 0.9%. Lam Research's dividend payout ratio (DPR) is currently 22.12%.

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.

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