Sonora Investment Management Group LLC Cuts Position in Lam Research Co. (NASDAQ:LRCX)

Sonora Investment Management Group LLC lessened its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 48.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,191 shares of the semiconductor company's stock after selling 3,995 shares during the quarter. Sonora Investment Management Group LLC's holdings in Lam Research were worth $305,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Fairway Wealth LLC lifted its position in shares of Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after buying an additional 306 shares during the last quarter. Financial Perspectives Inc lifted its position in shares of Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after buying an additional 309 shares during the last quarter. West Paces Advisors Inc. purchased a new stake in Lam Research in the 4th quarter valued at $27,000. Mpwm Advisory Solutions LLC purchased a new stake in Lam Research in the 4th quarter valued at $27,000. Finally, Midwest Capital Advisors LLC purchased a new stake in Lam Research in the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Ratings Changes

LRCX has been the subject of several research reports. Susquehanna upgraded shares of Lam Research from a "neutral" rating to a "positive" rating and upped their price target for the company from $75.00 to $125.00 in a research report on Thursday, February 20th. UBS Group reduced their price target on shares of Lam Research from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Oppenheimer reduced their price target on shares of Lam Research from $95.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. TD Cowen reduced their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Stifel Nicolaus reduced their price target on shares of Lam Research from $100.00 to $92.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lam Research currently has an average rating of "Moderate Buy" and a consensus target price of $90.87.

Lam Research Price Performance

NASDAQ LRCX traded down $2.14 during trading hours on Friday, reaching $89.52. The company's stock had a trading volume of 10,977,636 shares, compared to its average volume of 12,305,432. The stock has a market cap of $114.51 billion, a PE ratio of 27.19, a PEG ratio of 1.47 and a beta of 1.65. Lam Research Co. has a fifty-two week low of $56.32 and a fifty-two week high of $113.00. The company's 50-day moving average is $77.13 and its two-hundred day moving average is $76.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The firm's quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm earned $7.79 EPS. Analysts forecast that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a $0.23 dividend. 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 1.03%. Lam Research's dividend payout ratio (DPR) is 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.