Root Financial Partners LLC Reduces Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Root Financial Partners LLC reduced its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 33.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,471 shares of the semiconductor company's stock after selling 3,837 shares during the quarter. Root Financial Partners LLC's holdings in Lam Research were worth $543,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of LRCX. Westfuller Advisors LLC increased its holdings in Lam Research by 6.3% during the 1st quarter. Westfuller Advisors LLC now owns 9,114 shares of the semiconductor company's stock worth $665,000 after acquiring an additional 543 shares during the period. CFM Wealth Partners LLC bought a new stake in Lam Research during the 1st quarter worth approximately $418,000. Little House Capital LLC increased its holdings in Lam Research by 38.4% during the 1st quarter. Little House Capital LLC now owns 19,199 shares of the semiconductor company's stock worth $1,396,000 after acquiring an additional 5,324 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Lam Research by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,188,231 shares of the semiconductor company's stock worth $231,784,000 after acquiring an additional 27,708 shares during the period. Finally, Golden State Wealth Management LLC increased its holdings in Lam Research by 18.5% during the 1st quarter. Golden State Wealth Management LLC now owns 2,249 shares of the semiconductor company's stock worth $164,000 after acquiring an additional 351 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Trading Up 0.4%

Shares of LRCX opened at $97.20 on Friday. The stock has a market capitalization of $124.33 billion, a P/E ratio of 27.09, a PEG ratio of 1.37 and a beta of 1.65. 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 fifty day simple moving average of $82.59 and a two-hundred day simple moving average of $78.22. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $113.00.

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

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.95%. Lam Research's payout ratio is currently 25.63%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LRCX. Needham & Company LLC decreased their price target on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. UBS Group decreased their price target on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Oppenheimer reissued an "outperform" rating and issued a $110.00 price target (up previously from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. TD Securities decreased their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, B. Riley reissued a "buy" rating and issued a $115.00 price target (up previously from $95.00) on shares of Lam Research in a report on Wednesday, June 18th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lam Research presently has an average rating of "Moderate Buy" and an average target price of $93.97.

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.

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