Milestone Asset Management LLC Sells 63,652 Shares of Lam Research Co. (NASDAQ:LRCX)

Milestone Asset Management LLC reduced its stake in Lam Research Co. (NASDAQ:LRCX - Free Report) by 82.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,233 shares of the semiconductor company's stock after selling 63,652 shares during the period. Milestone Asset Management LLC's holdings in Lam Research were worth $962,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Gradient Investments LLC raised its position in Lam Research by 7.6% during the first quarter. Gradient Investments LLC now owns 234,025 shares of the semiconductor company's stock valued at $17,014,000 after purchasing an additional 16,468 shares in the last quarter. Eldred Rock Partners LLC increased its holdings in shares of Lam Research by 10.3% during the first quarter. Eldred Rock Partners LLC now owns 170,569 shares of the semiconductor company's stock worth $12,395,000 after buying an additional 15,976 shares in the last quarter. NBC Securities Inc. increased its holdings in shares of Lam Research by 581,300.0% during the first quarter. NBC Securities Inc. now owns 5,814 shares of the semiconductor company's stock worth $422,000 after buying an additional 5,813 shares in the last quarter. Douglas Lane & Associates LLC acquired a new position in shares of Lam Research during the first quarter worth $213,000. Finally, Green Alpha Advisors LLC increased its holdings in shares of Lam Research by 81.4% during the first quarter. Green Alpha Advisors LLC now owns 44,730 shares of the semiconductor company's stock worth $3,252,000 after buying an additional 20,071 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Bank of America decreased their price objective on Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Stifel Nicolaus cut their price objective on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Oppenheimer cut their price target on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $90.00 target price on shares of Lam Research in a research report on Thursday, April 24th. Finally, TD Securities decreased their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lam Research has an average rating of "Moderate Buy" and a consensus target price of $91.56.

Lam Research Stock Up 1.4%

Shares of NASDAQ LRCX traded up $1.18 during midday trading on Tuesday, hitting $83.66. The stock had a trading volume of 8,916,322 shares, compared to its average volume of 12,259,165. The business's 50 day moving average is $73.58 and its 200-day moving average is $76.03. The company has a market cap of $107.01 billion, a P/E ratio of 25.41, a PEG ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

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 (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The firm 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 26.49% and a return on equity of 51.86%. The business's revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.79 earnings per share. As a group, analysts predict that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.10%. Lam Research's dividend payout ratio is presently 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.