Lifeworks Advisors LLC Lowers Holdings in Lam Research Corporation (NASDAQ:LRCX)

Lifeworks Advisors LLC decreased its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 73.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,372 shares of the semiconductor company's stock after selling 18,035 shares during the period. Lifeworks Advisors LLC's holdings in Lam Research were worth $463,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LRCX. Brighton Jones LLC raised its position 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 purchasing an additional 12,936 shares during the period. LPL Financial LLC raised its position in Lam Research by 981.7% during the fourth quarter. LPL Financial LLC now owns 1,104,427 shares of the semiconductor company's stock valued at $79,773,000 after purchasing an additional 1,002,327 shares during the period. Congress Wealth Management LLC DE raised its position in Lam Research by 1,079.6% during the fourth quarter. Congress Wealth Management LLC DE now owns 10,675 shares of the semiconductor company's stock valued at $771,000 after purchasing an additional 9,770 shares during the period. TIAA Trust National Association raised its position in Lam Research by 635.3% during the fourth quarter. TIAA Trust National Association now owns 34,388 shares of the semiconductor company's stock valued at $2,484,000 after purchasing an additional 29,711 shares during the period. Finally, Zions Bancorporation N.A. lifted its stake in shares of Lam Research by 1,057.7% during the 4th quarter. Zions Bancorporation N.A. now owns 4,191 shares of the semiconductor company's stock worth $303,000 after acquiring an additional 3,829 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Lam Research Stock Performance

Shares of LRCX stock traded down $0.82 during mid-day trading on Friday, reaching $96.96. The stock had a trading volume of 8,912,992 shares, compared to its average volume of 8,968,377. The business's fifty day moving average is $92.49 and its 200-day moving average is $81.62. 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 firm has a market cap of $124.02 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.38 and a beta of 1.68. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $102.59.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The business 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 company's revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the company earned $7.79 earnings per share. On average, research analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently disclosed 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 0.95%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio is presently 25.63%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LRCX. KeyCorp raised their price target on Lam Research from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Citigroup reissued a "buy" rating and set a $108.00 price target (up from $87.00) on shares of Lam Research in a research note on Monday, July 7th. Jefferies Financial Group raised their price objective on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, March 28th. Needham & Company LLC reduced their price objective on Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Stifel Nicolaus reduced their price objective on Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.57.

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.