Valeo Financial Advisors LLC Sells 2,880 Shares of Lam Research Corporation (NASDAQ:LRCX)

Valeo Financial Advisors LLC lowered its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 15.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,301 shares of the semiconductor company's stock after selling 2,880 shares during the quarter. Valeo Financial Advisors LLC's holdings in Lam Research were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairway Wealth LLC boosted its stake in shares of Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after purchasing an additional 306 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Lam Research during the first quarter valued at approximately $26,000. West Paces Advisors Inc. purchased a new stake in shares of Lam Research during the fourth quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Lam Research during the fourth quarter valued at approximately $27,000. Finally, Avalon Trust Co boosted its stake in shares of Lam Research by 791.3% during the fourth quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 364 shares during the period. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on LRCX. UBS Group dropped their price objective on Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Barclays dropped their price target on Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Stifel Nicolaus dropped their price target on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. TD Securities dropped their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, B. Riley reaffirmed a "buy" rating and issued a $115.00 price target (up previously from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. Seven equities research 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 company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $97.48.

Lam Research Stock Up 0.7%

Shares of NASDAQ:LRCX traded up $0.67 on Friday, hitting $101.73. 6,202,333 shares of the company traded hands, compared to its average volume of 12,337,586. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $113.00. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The stock has a 50 day simple moving average of $87.96 and a 200-day simple moving average of $79.68. The company has a market cap of $130.12 billion, a PE ratio of 28.35, a PEG ratio of 1.41 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The firm had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the company earned $7.79 earnings per share. The company's revenue was up 24.4% on a year-over-year basis. As a group, research analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were issued a $0.23 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.90%. Lam Research's 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.