Lam Research Corporation (NASDAQ:LRCX) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC reduced its stake in Lam Research Corporation by 15.7%, owning 102,783 shares worth $7,472,000 after selling 19,166 shares in the 1st quarter.
• Lam Research reported $5.17 billion in revenue for the last quarter, exceeding analysts' expectations of $4.99 billion, and had a year-over-year revenue increase of 33.6%.
• Several research firms have upgraded their price targets, with Evercore ISI increasing their target from $95 to $99 and Oppenheimer raising it from $110 to $120, indicating a generally positive outlook for the stock.

Mizuho Securities USA LLC trimmed its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 15.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,783 shares of the semiconductor company's stock after selling 19,166 shares during the period. Mizuho Securities USA LLC's holdings in Lam Research were worth $7,472,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GW&K Investment Management LLC grew its position in Lam Research by 10.1% in the first quarter. GW&K Investment Management LLC now owns 1,534 shares of the semiconductor company's stock worth $112,000 after acquiring an additional 141 shares during the period. Citizens National Bank Trust Department lifted its stake in shares of Lam Research by 34.0% in the 1st quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock valued at $44,000 after purchasing an additional 153 shares during the last quarter. Cassaday & Co Wealth Management LLC grew its holdings in shares of Lam Research by 2.1% during the 1st quarter. Cassaday & Co Wealth Management LLC now owns 7,823 shares of the semiconductor company's stock worth $569,000 after purchasing an additional 163 shares during the period. SteelPeak Wealth LLC increased its position in shares of Lam Research by 0.4% during the 1st quarter. SteelPeak Wealth LLC now owns 42,064 shares of the semiconductor company's stock worth $3,068,000 after purchasing an additional 178 shares during the last quarter. Finally, Transcend Capital Advisors LLC increased its position in shares of Lam Research by 2.3% during the 1st quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock worth $586,000 after purchasing an additional 182 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of recent analyst reports. Summit Insights cut shares of Lam Research from a "buy" rating to a "hold" rating in a research report on Thursday, July 31st. TD Cowen lifted their price target on shares of Lam Research from $100.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. UBS Group lifted their price target on shares of Lam Research from $95.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the stock a "hold" rating in a research note on Thursday, April 24th. Finally, Argus upped their price target on Lam Research from $105.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Lam Research presently has an average rating of "Moderate Buy" and a consensus price target of $107.09.

Lam Research Stock Up 0.2%

NASDAQ LRCX traded up $0.25 during trading on Monday, reaching $102.00. 8,633,919 shares of the company's stock were exchanged, compared to its average volume of 11,957,262. The stock has a market cap of $130.47 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 1.32 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21. The company has a 50 day moving average price of $95.53 and a two-hundred day moving average price of $83.04. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $104.15.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. Lam Research's revenue for the quarter was up 33.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 EPS. On average, equities research analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's payout ratio is presently 22.12%.

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.