Massachusetts Financial Services Co. MA Sells 1,349,647 Shares of Lam Research Corporation (NASDAQ:LRCX)

Massachusetts Financial Services Co. MA reduced its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 22.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,738,438 shares of the semiconductor company's stock after selling 1,349,647 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.37% of Lam Research worth $344,484,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LRCX. One Charles Private Wealth Services LLC raised its stake in Lam Research by 843.4% in the fourth quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock valued at $289,000 after purchasing an additional 3,576 shares in the last quarter. Brighton Jones LLC raised its position in shares of Lam Research by 1,032.4% during the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock worth $1,025,000 after acquiring an additional 12,936 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Lam Research by 966.8% during the fourth quarter. Proficio Capital Partners LLC now owns 36,986 shares of the semiconductor company's stock valued at $2,672,000 after acquiring an additional 33,519 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Lam Research by 789.3% in the 4th quarter. Natixis Advisors LLC now owns 532,338 shares of the semiconductor company's stock valued at $38,451,000 after acquiring an additional 472,477 shares in the last quarter. Finally, Choate Investment Advisors increased its position in Lam Research by 964.0% in the 4th quarter. Choate Investment Advisors now owns 13,002 shares of the semiconductor company's stock valued at $939,000 after buying an additional 11,780 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LRCX. Morgan Stanley raised their price target on shares of Lam Research from $82.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. B. Riley restated a "buy" rating and set a $115.00 price objective (up from $95.00) on shares of Lam Research in a research note on Wednesday, June 18th. Barclays reduced their target price on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Oppenheimer reissued an "outperform" rating and set a $110.00 price target (up from $80.00) on shares of Lam Research in a research report on Tuesday, June 17th. Finally, The Goldman Sachs Group began coverage on shares of Lam Research in a research report on Thursday, July 10th. They set a "buy" rating and a $115.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $99.14.

Lam Research Price Performance

NASDAQ:LRCX traded up $0.42 during trading hours on Thursday, hitting $100.79. The stock had a trading volume of 9,744,562 shares, compared to its average volume of 12,377,674. The company has a 50 day simple moving average of $90.08 and a two-hundred day simple moving average of $80.43. The firm has a market capitalization of $128.92 billion, a price-to-earnings ratio of 28.09, a P/E/G ratio of 1.43 and a beta of 1.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. Lam Research Corporation has a one year low of $56.32 and a one year high of $102.19.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The business had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the business posted $7.79 earnings per share. Lam Research's revenue for the quarter was up 24.4% on a year-over-year basis. Research analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Wednesday, June 18th. Lam Research's payout ratio is currently 25.63%.

About Lam Research

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.