Lam Research Corporation (NASDAQ:LRCX) Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC trimmed its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 24.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,092 shares of the semiconductor company's stock after selling 9,071 shares during the period. KG&L Capital Management LLC's holdings in Lam Research were worth $2,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairway Wealth LLC boosted its position in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares during the period. West Paces Advisors Inc. purchased a new position in Lam Research in the fourth quarter valued at $27,000. Mpwm Advisory Solutions LLC acquired a new position in Lam Research during the 4th quarter worth $27,000. Bell Investment Advisors Inc grew its stake in Lam Research by 836.6% during the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 343 shares in the last quarter. Finally, Avalon Trust Co increased its holdings in Lam Research by 791.3% during the 4th quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 364 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Performance

NASDAQ LRCX traded up $0.82 on Thursday, reaching $96.84. The stock had a trading volume of 9,339,691 shares, compared to its average volume of 12,302,845. The stock has a market cap of $123.87 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 1.35 and a beta of 1.65. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $113.00. The business's 50-day moving average price is $81.26 and its 200 day moving average price is $77.94. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. During the same quarter in the prior year, the business earned $7.79 EPS. Lam Research's quarterly revenue was up 24.4% compared to the same quarter last year. As a group, equities analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio is currently 25.63%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Jefferies Financial Group boosted their price objective on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Oppenheimer reiterated an "outperform" rating and issued a $110.00 price target (up previously from $80.00) on shares of Lam Research in a research note on Tuesday, June 17th. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on shares of Lam Research and gave the company a "hold" rating in a research report on Thursday, April 24th. Argus upgraded shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Finally, Stifel Nicolaus lowered their target price on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $93.97.

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.