Mill Capital Management LLC Cuts Stock Holdings in Lam Research Corporation (NASDAQ:LRCX)

Mill Capital Management LLC trimmed its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 12.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,000 shares of the semiconductor company's stock after selling 5,000 shares during the period. Mill Capital Management LLC's holdings in Lam Research were worth $2,544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of LRCX. One Charles Private Wealth Services LLC lifted its position in shares of Lam Research by 843.4% in the 4th quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company's stock valued at $289,000 after acquiring an additional 3,576 shares in the last quarter. Brighton Jones LLC increased its stake in Lam Research by 1,032.4% during the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company's stock valued at $1,025,000 after acquiring an additional 12,936 shares during the period. Sigma Planning Corp lifted its stake in Lam Research by 940.0% during the fourth quarter. Sigma Planning Corp now owns 18,522 shares of the semiconductor company's stock worth $1,338,000 after purchasing an additional 16,741 shares during the period. First Horizon Advisors Inc. raised its stake in Lam Research by 865.2% during the fourth quarter. First Horizon Advisors Inc. now owns 2,413 shares of the semiconductor company's stock worth $174,000 after acquiring an additional 2,163 shares in the last quarter. Finally, Wealthspire Advisors LLC increased its holdings in Lam Research by 981.4% during the 4th quarter. Wealthspire Advisors LLC now owns 17,345 shares of the semiconductor company's stock valued at $1,253,000 after purchasing an additional 15,741 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stifel Nicolaus lowered their target price on Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley raised their target price on shares of Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the stock a "hold" rating in a research report on Thursday, April 24th. TD Securities decreased their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company cut their price objective on shares of Lam Research from $85.00 to $75.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.97.

Lam Research Trading Up 0.4%

Lam Research stock traded up $0.39 during trading hours on Wednesday, reaching $96.02. 8,662,664 shares of the company's stock were exchanged, compared to its average volume of 12,302,121. The firm's 50 day simple moving average is $80.64 and its 200 day simple moving average is $77.81. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $113.00. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $122.82 billion, a PE ratio of 26.76, a PEG ratio of 1.29 and a beta of 1.65.

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

Lam Research Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.96%. Lam Research's dividend payout ratio (DPR) 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.