Liontrust Investment Partners LLP Trims Stock Position in Lam Research Corporation $LRCX

Key Points

• Liontrust Investment Partners LLP reduced its stake in Lam Research Corporation by 34.1%, selling 103,412 shares during the first quarter, bringing their total holdings to 199,729 shares valued at approximately $14.52 million.
• Lam Research reported a quarterly earnings per share of $1.33, exceeding analyst expectations, with revenue up 33.6% compared to the previous year, totaling $5.17 billion.
• The company recently declared a quarterly dividend of $0.23 per share, resulting in an annualized yield of 0.9% and a payout ratio of 22.12%.

Liontrust Investment Partners LLP cut its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 34.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,729 shares of the semiconductor company's stock after selling 103,412 shares during the quarter. Liontrust Investment Partners LLP's holdings in Lam Research were worth $14,520,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LRCX. Brighton Jones LLC lifted its position in Lam Research by 1,032.4% in the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after acquiring an additional 12,936 shares in the last quarter. Renaissance Technologies LLC raised its stake in Lam Research by 198.6% during the 4th quarter. Renaissance Technologies LLC now owns 88,260 shares of the semiconductor company's stock valued at $6,375,000 after buying an additional 58,703 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in Lam Research during the 4th quarter valued at $984,000. XTX Topco Ltd raised its stake in Lam Research by 761.8% during the 4th quarter. XTX Topco Ltd now owns 11,962 shares of the semiconductor company's stock valued at $864,000 after buying an additional 10,574 shares during the last quarter. Finally, Anchor Investment Management LLC raised its stake in Lam Research by 806.7% during the 4th quarter. Anchor Investment Management LLC now owns 2,421 shares of the semiconductor company's stock valued at $175,000 after buying an additional 2,154 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LRCX shares. Wall Street Zen upgraded shares of Lam Research from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. TD Securities reduced their price objective 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. Argus upped their target price on shares of Lam Research from $105.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, August 1st. B. Riley reissued a "buy" rating and set a $115.00 price objective (up previously from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Finally, Erste Group Bank initiated coverage on shares of Lam Research in a report on Thursday. They set a "buy" rating for the company. Seven equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. Based on data from MarketBeat, Lam Research has an average rating of "Moderate Buy" and a consensus price target of $107.09.

Lam Research Trading Down 0.6%

Lam Research stock traded down $0.63 during midday trading on Monday, reaching $98.88. The stock had a trading volume of 15,113,754 shares, compared to its average volume of 12,044,868. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $108.02. The firm has a market cap of $125.14 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 1.29 and a beta of 1.65. The company has a fifty day moving average of $97.50 and a 200 day moving average of $83.98.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.12. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the company posted $1.03 EPS. The firm's revenue for the quarter was up 33.6% on a year-over-year basis. On average, analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.9%. Lam Research's dividend payout ratio (DPR) is 22.12%.

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.