Bank Julius Baer & Co. Ltd Zurich Sells 26,189 Shares of Lam Research Corporation (NASDAQ:LRCX)

Bank Julius Baer & Co. Ltd Zurich cut its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,789,628 shares of the semiconductor company's stock after selling 26,189 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.14% of Lam Research worth $142,768,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC bought a new position in shares of Lam Research during the first quarter valued at $26,000. West Paces Advisors Inc. bought a new position in shares of Lam Research during the fourth quarter valued at $27,000. Mpwm Advisory Solutions LLC bought a new position in shares of Lam Research during the fourth quarter valued at $27,000. Park Square Financial Group LLC bought a new position in shares of Lam Research during the fourth quarter valued at $31,000. Finally, Putney Financial Group LLC bought a new position in shares of Lam Research in the fourth quarter valued at about $36,000. 84.61% of the stock is owned by institutional investors.

Lam Research Trading Up 0.7%

Shares of Lam Research stock traded up $0.68 during trading on Thursday, hitting $97.78. 8,872,102 shares of the company were exchanged, compared to its average volume of 11,961,107. The firm has a market capitalization of $125.07 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 1.38 and a beta of 1.68. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $102.59. The firm's fifty day moving average price is $91.98 and its 200 day moving average price is $81.35. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the firm earned $7.79 EPS. Lam Research's quarterly revenue was up 24.4% compared to the same quarter last year. As a group, sell-side analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on LRCX shares. Evercore ISI lifted their price target on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Jefferies Financial Group lifted their price target on Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, March 28th. Citigroup reaffirmed a "buy" rating and issued a $108.00 price target (up from $87.00) on shares of Lam Research in a report on Monday, July 7th. Morgan Stanley lifted their price target on Lam Research from $82.00 to $87.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $115.00 price target (up from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $100.57.

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.