Lam Research Corporation (NASDAQ:LRCX) Shares Sold by Mainstay Capital Management LLC ADV

Mainstay Capital Management LLC ADV lessened its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,584 shares of the semiconductor company's stock after selling 2,963 shares during the period. Lam Research accounts for approximately 0.3% of Mainstay Capital Management LLC ADV's investment portfolio, making the stock its 29th biggest position. Mainstay Capital Management LLC ADV's holdings in Lam Research were worth $2,078,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. 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 position in shares of Lam Research during the 4th quarter worth approximately $31,000. Finally, Cedar Wealth Management LLC purchased a new position in shares of Lam Research during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analysts Set New Price Targets

LRCX has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their price objective on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. B. Riley restated a "buy" rating and issued a $115.00 price objective (up from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Cantor Fitzgerald restated an "overweight" rating and issued a $115.00 price objective (up from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. Citigroup restated a "buy" rating and issued a $108.00 price objective (up from $87.00) on shares of Lam Research in a report on Monday, July 7th. Finally, Wells Fargo & Company raised their price objective on shares of Lam Research from $75.00 to $95.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $99.14.

Lam Research Stock Performance

NASDAQ LRCX traded down $0.13 during trading on Friday, reaching $100.66. The company's stock had a trading volume of 8,114,872 shares, compared to its average volume of 12,303,086. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The firm has a market cap of $128.76 billion, a price-to-earnings ratio of 28.05, a P/E/G ratio of 1.42 and a beta of 1.68. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $102.19. The business's fifty day moving average price is $91.10 and its 200-day moving average price is $80.88.

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

Lam Research Announces Dividend

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

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.