Lam Research Corporation (NASDAQ:LRCX) Shares Sold by Oak Thistle LLC

Key Points

• Oak Thistle LLC significantly reduced its stake in Lam Research Corporation by 57.8%, holding 3,086 shares after selling 4,229 shares, valued at $224,000.
• Multiple institutional investors have recently added new positions, contributing to a total institutional ownership of 84.61% of Lam Research's stock.
• Wall Street analysts have a consensus rating of Moderate Buy for Lam Research, with an average price target of $100.57, reflecting growing optimism about the company's prospects.

Oak Thistle LLC decreased its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 57.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,086 shares of the semiconductor company's stock after selling 4,229 shares during the quarter. Oak Thistle LLC's holdings in Lam Research were worth $224,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LRCX. GW&K Investment Management LLC boosted its holdings in Lam Research by 10.1% in the first quarter. GW&K Investment Management LLC now owns 1,534 shares of the semiconductor company's stock worth $112,000 after acquiring an additional 141 shares in the last quarter. Citizens National Bank Trust Department boosted its stake in Lam Research by 34.0% in the 1st quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock worth $44,000 after purchasing an additional 153 shares in the last quarter. Cassaday & Co Wealth Management LLC boosted its stake in Lam Research by 2.1% in the 1st quarter. Cassaday & Co Wealth Management LLC now owns 7,823 shares of the semiconductor company's stock worth $569,000 after purchasing an additional 163 shares in the last quarter. SteelPeak Wealth LLC boosted its stake in Lam Research by 0.4% in the 1st quarter. SteelPeak Wealth LLC now owns 42,064 shares of the semiconductor company's stock worth $3,068,000 after purchasing an additional 178 shares in the last quarter. Finally, Transcend Capital Advisors LLC boosted its stake in Lam Research by 2.3% in the 1st quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock worth $586,000 after purchasing an additional 182 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Lam Research Price Performance

Shares of LRCX stock traded down $0.24 during trading hours on Tuesday, hitting $98.38. 2,042,718 shares of the company's stock were exchanged, compared to its average volume of 11,842,259. 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 cap of $125.84 billion, a P/E ratio of 27.46, a P/E/G ratio of 1.37 and a beta of 1.68. The firm has a 50 day moving average of $92.79 and a two-hundred day moving average of $81.85. Lam Research Corporation has a fifty-two week low of $56.32 and a fifty-two week high of $102.59.

Lam Research Dividend Announcement

The business also recently disclosed 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 0.94%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio is presently 25.63%.

Analysts Set New Price Targets

Several research firms have recently commented on LRCX. Cantor Fitzgerald reiterated an "overweight" rating and set a $115.00 price objective (up from $90.00) on shares of Lam Research in a research note on Tuesday, June 24th. Evercore ISI lifted their price target on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Stifel Nicolaus lifted their price target on Lam Research from $92.00 to $110.00 and gave the stock a "buy" rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the stock a "hold" rating in a report on Thursday, April 24th. Finally, The Goldman Sachs Group initiated coverage on Lam Research in a report on Thursday, July 10th. They set a "buy" rating and a $115.00 target price for the company. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $102.05.

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.