Vest Financial LLC Sells 316,524 Shares of Lam Research Co. (NASDAQ:LRCX)

Vest Financial LLC lowered its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 68.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 143,333 shares of the semiconductor company's stock after selling 316,524 shares during the period. Vest Financial LLC's holdings in Lam Research were worth $10,420,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Legacy Wealth Asset Management LLC lifted its stake in Lam Research by 1.9% in the first quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company's stock worth $963,000 after acquiring an additional 248 shares during the period. Paladin Wealth LLC boosted its holdings in Lam Research by 4.0% in the first quarter. Paladin Wealth LLC now owns 7,489 shares of the semiconductor company's stock worth $544,000 after acquiring an additional 289 shares in the last quarter. Fairway Wealth LLC boosted its holdings in Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 306 shares in the last quarter. Financial Perspectives Inc boosted its holdings in Lam Research by 908.8% in the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after acquiring an additional 309 shares in the last quarter. Finally, Bell Investment Advisors Inc boosted its holdings in Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock worth $28,000 after acquiring an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LRCX shares. Argus raised Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Stifel Nicolaus lowered their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Bank of America lowered their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. TD Securities lowered their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Morgan Stanley increased their target price on Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $91.56.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded up $1.44 during trading on Friday, hitting $86.35. 7,875,825 shares of the company's stock were exchanged, compared to its average volume of 12,260,808. The company has a market cap of $110.45 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 1.47 and a beta of 1.65. The business's 50-day simple moving average is $74.51 and its 200 day simple moving average is $76.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.54 and a quick ratio of 1.73. Lam Research Co. 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 quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The firm's revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter last year, the business posted $7.79 EPS. As a group, equities analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio is presently 25.63%.

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.