Jefferies Financial Group Inc. Sells 86,515 Shares of Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Jefferies Financial Group Inc. has significantly reduced its stake in Lam Research Corporation by selling 86,515 shares, resulting in a remaining ownership of just 5,688 shares.
• Lam Research's stock performance showed a quarterly earnings beat, reporting $1.33 EPS against a consensus estimate of $1.21, with a revenue of $5.17 billion for the quarter.
• Analysts have varying ratings and price targets for Lam Research, with a consensus rating of "Moderate Buy", and price targets ranging from $100.00 to $115.00.

Jefferies Financial Group Inc. trimmed its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 93.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,688 shares of the semiconductor company's stock after selling 86,515 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Lam Research were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. US Bancorp DE boosted its holdings in shares of Lam Research by 0.4% in the 1st quarter. US Bancorp DE now owns 437,832 shares of the semiconductor company's stock worth $31,830,000 after acquiring an additional 1,803 shares in the last quarter. Nicolet Advisory Services LLC boosted its stake in Lam Research by 32.6% in the first quarter. Nicolet Advisory Services LLC now owns 5,947 shares of the semiconductor company's stock worth $395,000 after purchasing an additional 1,462 shares in the last quarter. Harbour Investments Inc. grew its holdings in shares of Lam Research by 6.4% during the first quarter. Harbour Investments Inc. now owns 3,038 shares of the semiconductor company's stock worth $221,000 after purchasing an additional 182 shares during the last quarter. Brentview Investment Management LLC increased its stake in shares of Lam Research by 4.4% in the first quarter. Brentview Investment Management LLC now owns 49,302 shares of the semiconductor company's stock valued at $3,584,000 after buying an additional 2,067 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC raised its holdings in shares of Lam Research by 4.4% in the first quarter. Sound View Wealth Advisors Group LLC now owns 21,598 shares of the semiconductor company's stock valued at $1,570,000 after buying an additional 917 shares during the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LRCX shares. TD Securities decreased their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Summit Insights lowered shares of Lam Research from a "buy" rating to a "hold" rating in a report on Thursday, July 31st. The Goldman Sachs Group initiated coverage on shares of Lam Research in a research report on Thursday, July 10th. They issued a "buy" rating and a $115.00 price objective for the company. Citigroup increased their price objective on Lam Research from $108.00 to $113.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Morgan Stanley boosted their target price on Lam Research from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Seven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.09.

Lam Research Stock Performance

Shares of Lam Research stock opened at $95.94 on Thursday. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $102.59. The company has a current ratio of 2.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $122.72 billion, a PE ratio of 23.06, a PEG ratio of 1.27 and a beta of 1.65. The stock's fifty day simple moving average is $94.80 and its 200 day simple moving average is $82.76.

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

Lam Research Announces Dividend

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. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.0%. Lam Research's dividend payout ratio is currently 22.12%.

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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