FourThought Financial Partners LLC Sells 7,582 Shares of Lam Research Corporation (NASDAQ:LRCX)

Key Points

• FourThought Financial Partners LLC reduced its stake in Lam Research Corporation by 16.6%, holding 38,105 shares valued at approximately $2.77 million as of the latest SEC filing.
• Analysts maintain a bullish outlook on Lam Research, with price targets ranging from $70 to $120, and a current average rating of "Moderate Buy" with a target price of $100.57.
• Lam Research recently announced a quarterly dividend of $0.23 per share, yielding 0.95% annually and demonstrating a dividend payout ratio of 25.63%.

FourThought Financial Partners LLC lessened its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 16.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,105 shares of the semiconductor company's stock after selling 7,582 shares during the quarter. FourThought Financial Partners LLC's holdings in Lam Research were worth $2,770,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. TD Asset Management Inc boosted its stake in Lam Research by 4.7% in the first quarter. TD Asset Management Inc now owns 2,703,776 shares of the semiconductor company's stock valued at $196,565,000 after acquiring an additional 121,864 shares during the period. HB Wealth Management LLC lifted its position in Lam Research by 9.4% in the first quarter. HB Wealth Management LLC now owns 113,222 shares of the semiconductor company's stock worth $8,231,000 after purchasing an additional 9,717 shares during the period. Applied Finance Capital Management LLC lifted its position in Lam Research by 15.1% in the first quarter. Applied Finance Capital Management LLC now owns 20,733 shares of the semiconductor company's stock worth $1,507,000 after purchasing an additional 2,713 shares during the period. Angeles Wealth Management LLC lifted its position in Lam Research by 3.5% in the first quarter. Angeles Wealth Management LLC now owns 6,727 shares of the semiconductor company's stock worth $489,000 after purchasing an additional 227 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in Lam Research by 4.6% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 696,986 shares of the semiconductor company's stock worth $50,671,000 after purchasing an additional 30,916 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Stock Performance

Shares of NASDAQ LRCX traded up $0.43 during trading on Wednesday, reaching $99.37. 4,931,867 shares of the company traded hands, compared to its average volume of 11,829,586. The firm has a 50 day simple moving average of $93.08 and a 200-day simple moving average of $81.97. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $127.10 billion, a PE ratio of 27.72, a P/E/G ratio of 1.39 and a beta of 1.68. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $102.59.

Lam Research Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Wednesday, June 18th. Lam Research's payout ratio is currently 25.63%.

Analyst Ratings Changes

LRCX has been the topic of several research reports. Wells Fargo & Company upped their price target on Lam Research from $75.00 to $95.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Bank of America cut their target price on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the company a "hold" rating in a research note on Thursday, April 24th. B. Riley reissued a "buy" rating and set a $115.00 target price (up from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $115.00 price target (up from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Lam Research has a consensus rating of "Moderate Buy" and a consensus target price of $102.05.

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.