Foundations Investment Advisors LLC Trims Stake in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Foundations Investment Advisors LLC reduced its stake in Lam Research Corporation by 4.4% in Q1, now holding 67,836 shares worth approximately $4.93 million.
• Lam Research recently declared a quarterly dividend of $0.23, reflecting an annualized dividend yield of 0.93% and a payout ratio of 25.63%.
• Analysts have set a consensus target price of $102.05 for Lam Research, with an overall rating of "Moderate Buy" among numerous recommendations.

Foundations Investment Advisors LLC trimmed its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 4.4% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 67,836 shares of the semiconductor company's stock after selling 3,150 shares during the quarter. Foundations Investment Advisors LLC's holdings in Lam Research were worth $4,932,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC bought a new stake in shares of Lam Research during the 1st quarter worth $26,000. West Paces Advisors Inc. bought a new stake in shares of Lam Research during the 4th quarter worth $27,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Lam Research during the 4th quarter worth $27,000. Park Square Financial Group LLC bought a new stake in shares of Lam Research during the 4th quarter worth $31,000. Finally, Putney Financial Group LLC bought a new stake in shares of Lam Research during the 4th quarter worth $36,000. 84.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LRCX has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on Lam Research in a report on Thursday, July 10th. They issued a "buy" rating and a $115.00 target price for the company. Raymond James Financial upped their target price on Lam Research from $90.00 to $110.00 and gave the stock an "outperform" rating in a report on Thursday. Bank of America decreased their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Argus increased their price target on Lam Research from $105.00 to $120.00 and gave the company a "buy" rating in a research note on Friday. Finally, Summit Insights cut Lam Research from a "buy" rating to a "hold" rating in a research note on Thursday. Eight analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.87.

Lam Research Price Performance

LRCX stock traded up $0.79 during mid-day trading on Friday, hitting $95.63. 8,606,281 shares of the stock were exchanged, compared to its average volume of 11,969,554. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $102.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. The business has a fifty day moving average price of $93.65 and a 200 day moving average price of $82.23. The stock has a market capitalization of $122.33 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 1.40 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.12. Lam Research had a return on equity of 59.69% and a net margin of 29.07%. The company had revenue of $5.17 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the company posted $1.03 EPS. Lam Research's revenue for the quarter was up 33.6% on a year-over-year basis. On average, sell-side analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Wednesday, June 18th. Lam Research's payout ratio is currently 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.