SOA Wealth Advisors LLC. Lowers Stock Position in Lam Research Co. (NASDAQ:LRCX)

SOA Wealth Advisors LLC. decreased its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 84.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,604 shares of the semiconductor company's stock after selling 25,440 shares during the period. SOA Wealth Advisors LLC.'s holdings in Lam Research were worth $335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in LRCX. Financial Perspectives Inc boosted its stake in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Fairway Wealth LLC boosted its position in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after buying an additional 306 shares during the period. Midwest Capital Advisors LLC acquired a new stake in Lam Research during the 4th quarter worth approximately $27,000. West Paces Advisors Inc. bought a new stake in Lam Research during the 4th quarter worth approximately $27,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Lam Research in the 4th quarter valued at approximately $27,000. 84.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on LRCX. Barclays cut their price target on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC cut their target price on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group increased their price target on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Mizuho raised their price objective on Lam Research from $87.00 to $100.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Finally, Evercore ISI upped their target price on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Seven investment 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, the company has an average rating of "Moderate Buy" and an average price target of $90.87.

Lam Research Stock Performance

NASDAQ LRCX traded up $1.95 during trading hours on Monday, reaching $88.30. 14,494,163 shares of the company were exchanged, compared to its average volume of 12,295,527. The stock has a market capitalization of $112.95 billion, a P/E ratio of 26.82, a P/E/G ratio of 1.47 and a beta of 1.65. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The business's 50 day simple moving average is $74.51 and its 200-day simple moving average is $76.42.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the firm posted $7.79 EPS. The firm's revenue for the quarter was up 24.4% on a year-over-year basis. On average, equities research analysts expect that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.04%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio is 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.