Lam Research Corporation (NASDAQ:LRCX) Shares Sold by Spirepoint Private Client LLC

Spirepoint Private Client LLC lessened its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 17.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,343 shares of the semiconductor company's stock after selling 4,540 shares during the period. Spirepoint Private Client LLC's holdings in Lam Research were worth $1,552,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in LRCX. One Charles Private Wealth Services LLC boosted its holdings in shares of Lam Research by 843.4% during the fourth quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock valued at $289,000 after acquiring an additional 3,576 shares during the period. Brighton Jones LLC boosted its stake in Lam Research by 1,032.4% during the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after buying an additional 12,936 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Lam Research by 240.4% during the 4th quarter. Global Retirement Partners LLC now owns 6,457 shares of the semiconductor company's stock valued at $466,000 after purchasing an additional 4,560 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Lam Research by 763.5% in the 4th quarter. Private Advisor Group LLC now owns 55,037 shares of the semiconductor company's stock worth $3,975,000 after purchasing an additional 48,663 shares in the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new stake in Lam Research during the fourth quarter valued at approximately $743,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on LRCX shares. Bank of America decreased their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. B. Riley reissued a "buy" rating and set a $115.00 price objective (up from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. Needham & Company LLC cut their target price 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. Jefferies Financial Group lifted their price target on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, March 28th. Finally, UBS Group reduced their price objective on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $92.78.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $91.61 on Tuesday. The firm has a market cap of $117.18 billion, a price-to-earnings ratio of 25.53, a P/E/G ratio of 1.27 and a beta of 1.65. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $113.00. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $80.10 and a 200 day simple moving average of $77.69.

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 the consensus estimate of $1.00 by $0.04. The company 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 firm posted $7.79 EPS. As a group, sell-side analysts predict 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 given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio is 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.

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