Lam Research Corporation (NASDAQ:LRCX) Shares Sold by Sienna Gestion

Key Points

• Sienna Gestion has reduced its stake in Lam Research Corporation by 11.4%, selling 9,941 shares and retaining a total of 77,529 shares, valued at approximately $5,479,000.
• Lam Research reported $1.33 earnings per share for the last quarter, exceeding expectations of $1.21, with quarterly revenue reaching $5.17 billion, a 33.6% increase year-over-year.
• The company declared a quarterly dividend of $0.23 per share with an annualized yield of 0.9% and a dividend payout ratio of 22.12%.

Sienna Gestion lowered its stake in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 11.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,529 shares of the semiconductor company's stock after selling 9,941 shares during the period. Sienna Gestion's holdings in Lam Research were worth $5,479,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Lam Research by 6.9% in the first quarter. Vanguard Group Inc. now owns 129,152,102 shares of the semiconductor company's stock valued at $9,389,358,000 after purchasing an additional 8,364,375 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Lam Research by 950.5% in the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares during the period. Invesco Ltd. increased its holdings in shares of Lam Research by 2.8% in the first quarter. Invesco Ltd. now owns 17,330,771 shares of the semiconductor company's stock valued at $1,259,947,000 after purchasing an additional 472,636 shares during the period. Northern Trust Corp increased its holdings in shares of Lam Research by 1,067.0% in the fourth quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock valued at $1,146,235,000 after purchasing an additional 14,509,407 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Lam Research by 6,383.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock worth $980,500,000 after acquiring an additional 13,365,317 shares during the period. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LRCX shares. Bank of America dropped their price objective on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Wall Street Zen raised Lam Research from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Raymond James Financial boosted their target price on Lam Research from $90.00 to $110.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Oppenheimer boosted their target price on Lam Research from $110.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Needham & Company LLC boosted their target price on Lam Research from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Seven equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $107.09.

Lam Research Price Performance

Lam Research stock traded up $0.64 during midday trading on Thursday, reaching $107.38. 10,710,878 shares of the company were exchanged, compared to its average volume of 11,344,454. The firm's 50-day simple moving average is $97.24 and its 200-day simple moving average is $83.73. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $108.02. The company has a market capitalization of $135.90 billion, a price-to-earnings ratio of 25.81, a P/E/G ratio of 1.38 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.55 and a current ratio of 2.21.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The firm had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The firm's revenue for the quarter was up 33.6% compared to the same quarter last year. On average, analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a dividend of $0.23 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.9%. Lam Research's dividend payout ratio is 22.12%.

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.