Groupama Asset Managment Sells 13,315 Shares of Lam Research Corporation $LRCX

Key Points

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Groupama Asset Managment decreased its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,806 shares of the semiconductor company's stock after selling 13,315 shares during the quarter. Groupama Asset Managment's holdings in Lam Research were worth $7,392,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Van Lanschot Kempen Investment Management N.V. grew its stake in shares of Lam Research by 3.3% in the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 51,927 shares of the semiconductor company's stock worth $3,775,000 after purchasing an additional 1,650 shares during the last quarter. JT Stratford LLC bought a new stake in shares of Lam Research in the first quarter worth $1,059,000. MIG Capital LLC bought a new stake in shares of Lam Research in the first quarter worth $618,000. Legacy Financial Advisors Inc. grew its stake in shares of Lam Research by 25.3% in the first quarter. Legacy Financial Advisors Inc. now owns 6,316 shares of the semiconductor company's stock worth $459,000 after purchasing an additional 1,276 shares during the last quarter. Finally, Andina Capital Management LLC bought a new stake in shares of Lam Research in the first quarter worth $202,000. Institutional investors own 84.61% of the company's stock.

Lam Research Trading Down 0.6%

LRCX opened at $98.88 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $108.02. The firm has a market capitalization of $125.14 billion, a PE ratio of 23.77, a P/E/G ratio of 1.29 and a beta of 1.65. The company's 50-day moving average is $97.71 and its 200 day moving average is $84.11.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The firm's revenue was up 33.6% compared to the same quarter last year. As a group, research analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LRCX has been the topic of a number of research analyst reports. Erste Group Bank initiated coverage on shares of Lam Research in a research report on Thursday, August 14th. They set a "buy" rating on the stock. 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 research report on Thursday, April 24th. Citigroup upped their price target on shares of Lam Research from $108.00 to $113.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Needham & Company LLC upped their price target on shares of Lam Research from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Summit Insights cut shares of Lam Research from a "buy" rating to a "hold" rating in a research report on Thursday, July 31st. Seven investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.09.

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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