Marco Investment Management LLC Sells 40,000 Shares of Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Marco Investment Management LLC reduced its holdings in Lam Research Corporation by 39.9% in the first quarter, now owning 60,270 shares valued at approximately $4.38 million.
• Lam Research recently announced a quarterly dividend of $0.23 per share, with a dividend yield of 0.93% and a payout ratio of 25.63%.
• Analyst ratings for Lam Research show a mix of adjustments, with a consensus price target of $101.19 and a general rating of "Moderate Buy" from eight analysts.

Marco Investment Management LLC lessened its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 39.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,270 shares of the semiconductor company's stock after selling 40,000 shares during the quarter. Marco Investment Management LLC's holdings in Lam Research were worth $4,382,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Smallwood Wealth Investment Management LLC purchased a new position in shares of Lam Research during the first quarter valued at approximately $26,000. West Paces Advisors Inc. purchased a new stake in Lam Research in the fourth quarter worth $27,000. Mpwm Advisory Solutions LLC purchased a new stake in Lam Research in the fourth quarter worth $27,000. Park Square Financial Group LLC purchased a new stake in Lam Research in the fourth quarter worth $31,000. Finally, Putney Financial Group LLC purchased a new stake in shares of Lam Research in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on LRCX. The Goldman Sachs Group began coverage on Lam Research in a research note on Thursday, July 10th. They issued a "buy" rating and a $115.00 target price on the stock. B. Riley reaffirmed a "buy" rating and set a $115.00 price target (up from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Raymond James Financial upped their price target on Lam Research from $90.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday. KeyCorp upped their price target on Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Oppenheimer upped their price target on Lam Research from $110.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday. Eight analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $106.87.

Lam Research Stock Performance

NASDAQ LRCX traded up $0.95 during trading hours on Friday, hitting $95.79. The company had a trading volume of 8,910,990 shares, compared to its average volume of 11,971,760. The business has a 50 day moving average of $93.65 and a 200-day moving average of $82.23. 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 1-year low of $56.32 and a 1-year high of $102.59. The company has a market cap of $122.53 billion, a PE ratio of 22.99, a price-to-earnings-growth ratio of 1.40 and a beta of 1.68.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) 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 59.69%. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The business's revenue was up 33.6% compared to the same quarter last year. As a group, equities research analysts expect that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were issued 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 yield of 1.0%. Lam Research's 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.