Stratos Wealth Partners LTD. Sells 7,660 Shares of Lam Research Corporation (NASDAQ:LRCX)

Stratos Wealth Partners LTD. lowered its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,043 shares of the semiconductor company's stock after selling 7,660 shares during the period. Stratos Wealth Partners LTD.'s holdings in Lam Research were worth $7,346,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Lam Research by 892.7% during the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company's stock valued at $8,724,498,000 after purchasing an additional 108,619,564 shares during the last quarter. FMR LLC increased its position in shares of Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company's stock valued at $2,891,453,000 after purchasing an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Lam Research by 950.5% during the 4th 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 last quarter. Geode Capital Management LLC increased its position in shares of Lam Research by 907.1% during the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company's stock valued at $2,265,610,000 after purchasing an additional 28,307,499 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Lam Research during the 4th quarter valued at about $1,661,672,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

LRCX has been the topic of several recent research reports. Argus upgraded Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on Lam Research and gave the stock a "hold" rating in a research report on Thursday, April 24th. Barclays reduced their price target on Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley lifted their price objective on Lam Research from $82.00 to $87.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Finally, Jefferies Financial Group lifted their price objective on Lam Research from $95.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, March 28th. Seven equities 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $97.48.

Lam Research Stock Up 0.7%

Shares of LRCX traded up $0.67 on Friday, reaching $101.73. The stock had a trading volume of 6,202,556 shares, compared to its average volume of 12,344,380. The firm has a market capitalization of $130.12 billion, a price-to-earnings ratio of 28.35, a price-to-earnings-growth ratio of 1.44 and a beta of 1.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. The company has a 50-day simple moving average of $88.50 and a 200-day simple moving average of $79.92. Lam Research Corporation has a 12-month low of $56.32 and a 12-month high of $108.23.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $4.72 billion during the quarter, compared to analysts' expectations of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The firm's quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $7.79 earnings per share. Sell-side analysts predict that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's payout ratio is 25.63%.

About Lam Research

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.