ING Groep NV Sells 55,408 Shares of Lam Research Corporation (NASDAQ:LRCX)

ING Groep NV lessened its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 4.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,156,563 shares of the semiconductor company's stock after selling 55,408 shares during the period. ING Groep NV owned 0.09% of Lam Research worth $84,082,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of LRCX. GW&K Investment Management LLC raised its position in shares of Lam Research by 10.1% during the first quarter. GW&K Investment Management LLC now owns 1,534 shares of the semiconductor company's stock worth $112,000 after acquiring an additional 141 shares during the last quarter. Citizens National Bank Trust Department raised its holdings in Lam Research by 34.0% during the 1st quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 153 shares during the last quarter. Cassaday & Co Wealth Management LLC raised its holdings in Lam Research by 2.1% during the 1st quarter. Cassaday & Co Wealth Management LLC now owns 7,823 shares of the semiconductor company's stock worth $569,000 after purchasing an additional 163 shares during the last quarter. SteelPeak Wealth LLC raised its holdings in Lam Research by 0.4% during the 1st quarter. SteelPeak Wealth LLC now owns 42,064 shares of the semiconductor company's stock worth $3,068,000 after purchasing an additional 178 shares during the last quarter. Finally, Transcend Capital Advisors LLC raised its stake in shares of Lam Research by 2.3% during the first quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock worth $586,000 after buying an additional 182 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Lam Research Stock Up 1.6%

NASDAQ:LRCX opened at $96.37 on Monday. The company has a market cap of $123.27 billion, a PE ratio of 23.17, a PEG ratio of 1.29 and a beta of 1.65. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $102.59. The stock has a 50-day simple moving average of $93.96 and a 200 day simple moving average of $82.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21.

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 for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The firm's revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 earnings per share. On average, sell-side analysts expect that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is currently 22.12%.

Analysts Set New Price Targets

A number of research firms recently weighed in on LRCX. Summit Insights downgraded shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Thursday. Needham & Company LLC upped their target price on shares of Lam Research from $110.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday. Cantor Fitzgerald reiterated an "overweight" rating and issued a $115.00 price objective (up previously from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. Oppenheimer upped their price objective on Lam Research from $110.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Stifel Nicolaus upped their price target on Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.09.

Lam Research 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.

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