Janney Montgomery Scott LLC reduced its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 6.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 454,924 shares of the semiconductor company's stock after selling 33,138 shares during the quarter. Janney Montgomery Scott LLC's holdings in Lam Research were worth $33,073,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Perspectives Inc grew its stake in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 309 shares during the period. Fairway Wealth LLC boosted its holdings in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 306 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in shares of Lam Research during the 4th quarter worth approximately $27,000. West Paces Advisors Inc. bought a new position in Lam Research during the fourth quarter valued at $27,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Lam Research in the fourth quarter valued at $27,000. Institutional investors own 84.61% of the company's stock.
Analysts Set New Price Targets
LRCX has been the subject of several research analyst reports. Evercore ISI lifted their price target on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Wells Fargo & Company lowered their target price on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and raised their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Cantor Fitzgerald restated an "overweight" rating and set a $90.00 price objective on shares of Lam Research in a report on Thursday, April 24th. Finally, Needham & Company LLC reduced their price target on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.78.
Read Our Latest Stock Analysis on Lam Research
Lam Research Stock Performance
NASDAQ:LRCX traded down $0.42 during mid-day trading on Thursday, hitting $92.24. The stock had a trading volume of 9,373,055 shares, compared to its average volume of 12,291,497. The company has a 50 day simple moving average of $78.65 and a 200-day simple moving average of $77.39. The stock has a market capitalization of $117.99 billion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 1.30 and a beta of 1.65. 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 Corporation has a 52 week low of $56.32 and a 52 week high of $113.00.
Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating 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 business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the business earned $7.79 earnings per share. The business's quarterly revenue was up 24.4% on a year-over-year basis. On average, research analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.
Lam Research Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio is 25.63%.
Lam Research Company Profile
(
Free Report)
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.
Featured Stories
Before you consider Lam Research, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lam Research wasn't on the list.
While Lam Research currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
