Lam Research Corporation (NASDAQ:LRCX) Stock Position Lowered by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. reduced its stake in Lam Research Corporation by 17.3% in the first quarter, leaving them with 14,370 shares valued at approximately $1,045,000.
• Analysts have increased their target prices for Lam Research stock, with Morgan Stanley raising it to $94.00 and TD Cowen setting it at $125.00, reflecting an overall positive sentiment with a consensus rating of "Moderate Buy".
• Lam Research's latest quarterly earnings revealed an EPS of $1.33 and revenue of $5.17 billion, exceeding analysts' expectations and showing a year-over-year revenue growth of 33.6%.

Fox Run Management L.L.C. lessened its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,370 shares of the semiconductor company's stock after selling 3,008 shares during the quarter. Fox Run Management L.L.C.'s holdings in Lam Research were worth $1,045,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Lam Research in the 1st quarter valued at approximately $26,000. West Paces Advisors Inc. purchased a new stake in shares of Lam Research in the 4th quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Lam Research in the 4th quarter valued at approximately $27,000. Park Square Financial Group LLC purchased a new stake in shares of Lam Research in the 4th quarter valued at approximately $31,000. Finally, Putney Financial Group LLC purchased a new stake in Lam Research in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LRCX shares. Morgan Stanley increased their target price on shares of Lam Research from $87.00 to $94.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Mizuho increased their target price on shares of Lam Research from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. B. Riley reiterated a "buy" rating and issued a $115.00 target price (up previously from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $115.00 target price (up previously from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. Finally, TD Cowen increased their target price on shares of Lam Research from $100.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Seven analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.09.

Lam Research Price Performance

NASDAQ:LRCX opened at $107.38 on Friday. The company has a 50-day moving average of $97.24 and a 200-day moving average of $83.73. The company has a market capitalization of $135.90 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 1.38 and a beta of 1.65. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $108.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 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 net margin of 29.07% and a return on equity of 58.17%. The firm's revenue for the quarter was up 33.6% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS. As a group, equities research analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently disclosed 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. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) 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.

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