Lam Research Corporation (NASDAQ:LRCX) Shares Sold by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. lowered its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 20.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,342 shares of the semiconductor company's stock after selling 5,384 shares during the quarter. Cutter & CO Brokerage Inc.'s holdings in Lam Research were worth $1,479,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Turtle Creek Wealth Advisors LLC lifted its position in Lam Research by 12.7% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 82,345 shares of the semiconductor company's stock valued at $5,986,000 after purchasing an additional 9,251 shares during the last quarter. Bleakley Financial Group LLC lifted its position in Lam Research by 11.9% during the first quarter. Bleakley Financial Group LLC now owns 27,518 shares of the semiconductor company's stock valued at $2,001,000 after purchasing an additional 2,922 shares during the last quarter. Securian Asset Management Inc. bought a new position in Lam Research during the first quarter valued at $4,943,000. Peregrine Investment Management Inc. lifted its position in Lam Research by 4.0% during the first quarter. Peregrine Investment Management Inc. now owns 130,630 shares of the semiconductor company's stock valued at $9,497,000 after purchasing an additional 4,980 shares during the last quarter. Finally, Prudent Man Advisors LLC bought a new position in Lam Research during the first quarter valued at $1,073,000. Institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup reiterated a "buy" rating and set a $108.00 price objective (up previously from $87.00) on shares of Lam Research in a research report on Monday, July 7th. Evercore ISI increased their target price on shares of Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. The Goldman Sachs Group initiated coverage on shares of Lam Research in a research note on Thursday, July 10th. They issued a "buy" rating and a $115.00 target price on the stock. TD Cowen reduced their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Argus raised shares of Lam Research to a "strong-buy" rating in a research note on Friday, April 25th. 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's stock. According to MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.14.

Lam Research Stock Up 1.5%

Lam Research stock traded up $1.45 during midday trading on Tuesday, hitting $101.07. 9,180,295 shares of the company's stock were exchanged, compared to its average volume of 12,351,862. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $108.23. The firm has a 50-day moving average of $89.02 and a two-hundred day moving average of $80.14. The company has a market cap of $129.28 billion, a PE ratio of 28.17, a P/E/G ratio of 1.41 and a beta of 1.68.

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 (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The company had revenue of $4.72 billion for the quarter, compared to analysts' expectations of $4.64 billion. During the same period in the prior year, the business earned $7.79 EPS. The firm's quarterly revenue was up 24.4% on a year-over-year basis. As a group, analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio is currently 25.63%.

Lam Research Company 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.