Kestra Private Wealth Services LLC Sells 4,609 Shares of Lam Research Corporation (NASDAQ:LRCX)

Kestra Private Wealth Services LLC decreased its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 15.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,986 shares of the semiconductor company's stock after selling 4,609 shares during the period. Kestra Private Wealth Services LLC's holdings in Lam Research were worth $1,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. FMR LLC boosted its holdings in shares of Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares in the last quarter. Norges Bank acquired a new stake in Lam Research in the fourth quarter valued at approximately $1,661,672,000. Finally, Invesco Ltd. raised its holdings in shares of Lam Research by 909.5% in the fourth quarter. Invesco Ltd. now owns 16,858,135 shares of the semiconductor company's stock worth $1,217,663,000 after buying an additional 15,188,173 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LRCX. B. Riley reissued a "buy" rating and set a $115.00 target price (up previously from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Morgan Stanley boosted their price target on shares of Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Citigroup reaffirmed a "buy" rating and set a $108.00 target price (up from $87.00) on shares of Lam Research in a research note on Monday, July 7th. Jefferies Financial Group upped their target price on shares of Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Finally, Bank of America dropped their price objective on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $100.57.

Lam Research Trading Down 4.0%

NASDAQ LRCX opened at $97.69 on Wednesday. The company's fifty day simple moving average is $91.10 and its 200-day simple moving average is $80.94. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $102.59. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The stock has a market cap of $124.96 billion, a P/E ratio of 27.23, a PEG ratio of 1.44 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share 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 business had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter last year, the company earned $7.79 EPS. The company's revenue for the quarter was up 24.4% compared to the same quarter last year. Equities research analysts predict that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio is presently 25.63%.

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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