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

Valeo Financial Advisors LLC cut its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 15.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,301 shares of the semiconductor company's stock after selling 2,880 shares during the period. Valeo Financial Advisors LLC's holdings in Lam Research were worth $1,112,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC lifted its position in Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 306 shares during the period. Smallwood Wealth Investment Management LLC bought a new stake in Lam Research in the first quarter valued at approximately $26,000. West Paces Advisors Inc. bought a new stake in Lam Research in the fourth quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Lam Research during the 4th quarter worth approximately $27,000. Finally, Avalon Trust Co grew its position in shares of Lam Research by 791.3% during the 4th quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock worth $30,000 after buying an additional 364 shares during the period. 84.61% of the stock is owned by institutional investors.

Lam Research Stock Up 1.5%

LRCX traded up $1.48 during trading on Thursday, reaching $101.29. 2,261,614 shares of the stock traded hands, compared to its average volume of 12,327,053. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The stock's 50-day simple moving average is $87.37 and its two-hundred day simple moving average is $79.49. The stock has a market cap of $129.56 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 1.41 and a beta of 1.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.79 EPS. As a group, equities research analysts expect that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were issued a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.91%. Lam Research's dividend payout ratio (DPR) is presently 25.63%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Bank of America decreased their target price on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Argus upgraded shares of Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. UBS Group cut 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 report on Monday, April 14th. Needham & Company LLC cut their price objective on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Citigroup reiterated a "buy" rating and set a $108.00 target price (up from $87.00) on shares of Lam Research in a research report on Monday. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $97.48.

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.