E&G Advisors LP Sells 3,200 Shares of Lam Research Corporation (NASDAQ:LRCX)

E&G Advisors LP lowered its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 10.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,380 shares of the semiconductor company's stock after selling 3,200 shares during the period. E&G Advisors LP's holdings in Lam Research were worth $1,991,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Lam Research by 892.7% in the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after acquiring an additional 108,619,564 shares in the last quarter. FMR LLC lifted its holdings in Lam Research by 1,032.6% in the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock worth $2,891,453,000 after buying an additional 36,496,689 shares during the period. Ameriprise Financial Inc. lifted its holdings in Lam Research by 950.5% in the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock worth $2,495,128,000 after buying an additional 31,255,726 shares during the period. Geode Capital Management LLC lifted its holdings in Lam Research by 907.1% in the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock worth $2,265,610,000 after buying an additional 28,307,499 shares during the period. Finally, Norges Bank purchased a new stake in Lam Research in the fourth quarter worth about $1,661,672,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Lam Research Stock Up 0.4%

Shares of NASDAQ:LRCX traded up $0.36 during trading on Friday, reaching $97.20. 10,779,709 shares of the stock traded hands, compared to its average volume of 12,323,438. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $113.00. The stock has a 50-day moving average of $82.59 and a two-hundred day moving average of $78.22. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The stock has a market cap of $124.33 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 1.36 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its 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 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 quarter in the previous year, the firm earned $7.79 EPS. Lam Research's revenue was up 24.4% on a year-over-year basis. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 0.95%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio is currently 25.63%.

Analyst Upgrades and Downgrades

Several analysts have commented on LRCX shares. Argus upgraded shares of Lam Research to a "strong-buy" rating in a report on Friday, April 25th. Barclays reduced their target price on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Oppenheimer reaffirmed an "outperform" rating and issued a $110.00 target price (up from $80.00) on shares of Lam Research in a research report on Tuesday, June 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $115.00 target price (up from $90.00) on shares of Lam Research in a research report on Tuesday. Finally, Morgan Stanley upped their target price on shares of Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $93.97.

Lam Research Company 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.