Lam Research Corporation (NASDAQ:LRCX) Shares Sold by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd has reduced its stake in Lam Research Corporation by 20.1%, holding 156,804 shares after selling 39,398 shares in the first quarter.
• Analyst ratings for Lam Research show a consensus of "Moderate Buy"**, with 17 analysts assigning a "buy" rating, and the average price target set at **$100.57**.
• Lam Research reported a quarterly revenue increase of 24.4% year-over-year, with earnings per share of $1.04, exceeding consensus estimates.

Mediolanum International Funds Ltd trimmed its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 20.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 156,804 shares of the semiconductor company's stock after selling 39,398 shares during the quarter. Mediolanum International Funds Ltd's holdings in Lam Research were worth $11,386,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in LRCX. Smallwood Wealth Investment Management LLC purchased a new stake in Lam Research in the 1st quarter valued at $26,000. West Paces Advisors Inc. purchased a new stake in Lam Research in the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC purchased a new stake in Lam Research in the 4th quarter valued at $27,000. Park Square Financial Group LLC purchased a new stake in Lam Research in the 4th quarter valued at $31,000. Finally, Putney Financial Group LLC purchased a new position in shares of Lam Research during the 4th quarter worth $36,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barclays set a $83.00 price target on Lam Research and gave the stock an "equal weight" rating in a report on Monday. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the company a "hold" rating in a research report on Thursday, April 24th. UBS Group increased their price target on Lam Research from $95.00 to $120.00 and gave the company a "buy" rating in a research report on Monday, July 21st. B. Riley reaffirmed a "buy" rating and issued a $115.00 price target (up previously from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Finally, The Goldman Sachs Group started coverage on Lam Research in a research report on Thursday, July 10th. They issued a "buy" rating and a $115.00 price target on the stock. Seven 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 stock. Based on data from MarketBeat.com, Lam Research presently has a consensus rating of "Moderate Buy" and an average price target of $102.05.

Lam Research Price Performance

Shares of NASDAQ:LRCX traded up $0.86 on Wednesday, hitting $99.80. The company had a trading volume of 3,393,137 shares, compared to its average volume of 11,818,210. The company has a market cap of $127.65 billion, a PE ratio of 27.77, a PEG ratio of 1.39 and a beta of 1.68. The business has a 50 day moving average of $93.08 and a 200 day moving average of $81.97. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $102.59. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were paid a $0.23 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.92%. 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.