Menora Mivtachim Holdings LTD. Sells 322,170 Shares of Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Menora Mivtachim Holdings LTD. reduced its stake in Lam Research Corporation by 23.3%, selling 322,170 shares in the first quarter, resulting in ownership of approximately 1,059,280 shares valued at $77 million.
• Lam Research reported a 33.6% increase in revenue year-over-year, with earnings per share (EPS) of $1.33 in the most recent quarter, surpassing estimates and indicating a robust performance.
• Institutional investors currently own 84.61% of Lam Research shares, reflecting significant interest among hedge funds and investment firms in the semiconductor company.

Menora Mivtachim Holdings LTD. reduced its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 23.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,059,280 shares of the semiconductor company's stock after selling 322,170 shares during the quarter. Menora Mivtachim Holdings LTD. owned about 0.08% of Lam Research worth $77,010,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Pinnacle Financial Partners Inc acquired a new position in shares of Lam Research during the first quarter worth approximately $201,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Lam Research during the fourth quarter valued at approximately $6,296,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Lam Research by 27.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,505 shares of the semiconductor company's stock valued at $3,607,000 after buying an additional 10,565 shares during the last quarter. First Citizens Bank & Trust Co. boosted its position in shares of Lam Research by 47.8% during the first quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company's stock valued at $8,862,000 after buying an additional 39,414 shares during the last quarter. Finally, Global X Japan Co. Ltd. purchased a new position in shares of Lam Research during the first quarter valued at approximately $3,152,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Trading Down 7.3%

LRCX opened at $99.51 on Friday. The business has a 50 day simple moving average of $97.50 and a two-hundred day simple moving average of $83.90. The firm has a market capitalization of $125.94 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 1.39 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. Lam Research Corporation has a one year low of $56.32 and a one year high of $108.02.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The business's revenue was up 33.6% compared to the same quarter last year. Analysts predict that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently issued reports on the company. TD Cowen lifted their target price on Lam Research from $100.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. KeyCorp lifted their target price on Lam Research from $105.00 to $115.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Wells Fargo & Company set a $98.00 target price on Lam Research and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the company a "hold" rating in a research report on Thursday, April 24th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $115.00 price objective (up previously from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.09.

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.

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