Lam Research Corporation (NASDAQ:LRCX) Shares Sold by E&G Advisors LP

E&G Advisors LP decreased its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 quarter.

Several other hedge funds have also recently bought and sold shares of LRCX. Field & Main Bank lifted its stake in shares of Lam Research by 9.0% in the 1st quarter. Field & Main Bank now owns 2,595 shares of the semiconductor company's stock valued at $189,000 after purchasing an additional 215 shares in the last quarter. Investment Partners Asset Management Inc. lifted its holdings in shares of Lam Research by 5.4% during the 1st quarter. Investment Partners Asset Management Inc. now owns 4,373 shares of the semiconductor company's stock valued at $318,000 after acquiring an additional 226 shares in the last quarter. Childress Capital Advisors LLC lifted its holdings in shares of Lam Research by 6.1% during the 1st quarter. Childress Capital Advisors LLC now owns 4,178 shares of the semiconductor company's stock valued at $304,000 after acquiring an additional 240 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Lam Research by 5.5% during the 1st quarter. Salem Investment Counselors Inc. now owns 4,716 shares of the semiconductor company's stock valued at $344,000 after acquiring an additional 246 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its holdings in shares of Lam Research by 1.9% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company's stock valued at $963,000 after acquiring an additional 248 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on LRCX shares. TD Securities reduced their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. TD Cowen reduced their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Argus raised Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Needham & Company LLC reduced their price target on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, UBS Group reduced their target price on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.97.

Lam Research Trading Up 4.4%

Shares of NASDAQ LRCX opened at $95.63 on Wednesday. The stock's 50 day moving average price is $80.64 and its two-hundred day moving average price is $77.81. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $113.00. The stock has a market capitalization of $122.32 billion, a P/E ratio of 26.65, a PEG ratio of 1.29 and a beta of 1.65. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The business's revenue was up 24.4% compared to the same quarter last year. During the same period in the prior year, the company posted $7.79 EPS. On average, analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.96%. Lam Research's dividend payout ratio (DPR) is 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.

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