Prakash Investment Advisors LLC Sells 7,800 Shares of Lam Research Corporation (NASDAQ:LRCX)

Prakash Investment Advisors LLC trimmed its position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 41.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,800 shares of the semiconductor company's stock after selling 7,800 shares during the quarter. Lam Research accounts for 0.9% of Prakash Investment Advisors LLC's portfolio, making the stock its 23rd largest position. Prakash Investment Advisors LLC's holdings in Lam Research were worth $785,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairway Wealth LLC grew its holdings in shares of Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock valued at $25,000 after buying an additional 306 shares during the period. West Paces Advisors Inc. acquired a new position in shares of Lam Research in the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Lam Research in the 4th quarter valued at $27,000. Bell Investment Advisors Inc grew its holdings in shares of Lam Research by 836.6% in the 4th quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after buying an additional 343 shares during the period. Finally, Avalon Trust Co grew its holdings in shares of Lam Research by 791.3% in the 4th quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock valued at $30,000 after buying an additional 364 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on LRCX. Bank of America cut their price objective on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Oppenheimer reaffirmed an "outperform" rating and issued a $110.00 price objective (up from $80.00) on shares of Lam Research in a research report on Tuesday, June 17th. Stifel Nicolaus cut their price objective on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC cut their price target on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, Morgan Stanley boosted their price target on shares of Lam Research from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Lam Research currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.97.

Lam Research Stock Up 0.4%

Shares of LRCX opened at $97.20 on Friday. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $113.00. The firm has a market cap of $124.33 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 1.37 and a beta of 1.65. The firm's 50-day simple moving average is $82.59 and its 200 day simple moving average is $78.22. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly 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. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the business earned $7.79 EPS. Lam Research's quarterly revenue was up 24.4% on a year-over-year basis. On average, analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be paid a $0.23 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.95%. Lam Research's dividend payout ratio (DPR) is currently 25.63%.

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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