KBC Group NV Trims Stock Position in Lam Research Corporation (NASDAQ:LRCX)

KBC Group NV cut its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 41.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 800,703 shares of the semiconductor company's stock after selling 570,359 shares during the quarter. KBC Group NV owned about 0.06% of Lam Research worth $58,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. One Charles Private Wealth Services LLC grew its stake in Lam Research by 843.4% during the 4th quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock valued at $289,000 after purchasing an additional 3,576 shares in the last quarter. Brighton Jones LLC boosted its position in Lam Research by 1,032.4% during the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after purchasing an additional 12,936 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of Lam Research by 1,058.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 21,321 shares of the semiconductor company's stock worth $1,540,000 after purchasing an additional 19,481 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Lam Research by 1,261.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 3,525 shares of the semiconductor company's stock worth $255,000 after purchasing an additional 3,266 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Lam Research by 437.2% in the fourth quarter. Private Trust Co. NA now owns 5,431 shares of the semiconductor company's stock worth $392,000 after purchasing an additional 4,420 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on LRCX shares. Morgan Stanley upped their price objective on Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Jefferies Financial Group increased their price objective on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Wells Fargo & Company reduced their price objective on Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $115.00 target price (up from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. Finally, TD Securities dropped their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lam Research has an average rating of "Moderate Buy" and a consensus price target of $93.97.

Lam Research Price Performance

Lam Research stock opened at $97.20 on Monday. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $113.00. The company's 50 day moving average price is $82.59 and its two-hundred day moving average price is $78.24. 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 cap of $124.33 billion, a P/E ratio of 27.09, a P/E/G ratio of 1.37 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The company had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter in the previous year, the firm posted $7.79 EPS. Lam Research's revenue was up 24.4% on a year-over-year basis. On average, equities analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current 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 issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.95%. Lam Research's payout ratio is currently 25.63%.

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.

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