TCW Group Inc. Lowers Position in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• TCW Group Inc. has reduced its holdings in Lam Research Corporation by 30.7%, now owning 198,941 shares worth approximately $14.5 million.
• Analysts have mixed opinions on LRCX, with price targets ranging from $80.00 to $115.00, indicating a consensus rating of Moderate Buy.
• Lam Research announced a quarterly dividend of $0.23 per share, which reflects a dividend yield of 0.95% and a payout ratio of 25.63%.

TCW Group Inc. reduced its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 30.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 198,941 shares of the semiconductor company's stock after selling 88,070 shares during the period. TCW Group Inc.'s holdings in Lam Research were worth $14,463,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. LPL Financial LLC increased its holdings in shares of Lam Research by 4.6% during the 1st quarter. LPL Financial LLC now owns 1,155,707 shares of the semiconductor company's stock worth $84,020,000 after purchasing an additional 51,280 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Lam Research by 1.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 629,079 shares of the semiconductor company's stock worth $45,734,000 after buying an additional 6,891 shares in the last quarter. Investment Management Corp VA ADV bought a new position in Lam Research during the first quarter valued at about $398,000. Empirical Finance LLC raised its holdings in Lam Research by 1.5% in the 1st quarter. Empirical Finance LLC now owns 46,397 shares of the semiconductor company's stock valued at $3,373,000 after acquiring an additional 679 shares in the last quarter. Finally, Allium Financial Advisors LLC bought a new stake in shares of Lam Research in the 1st quarter worth approximately $566,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Trading Up 1.7%

Shares of Lam Research stock traded up $1.66 on Monday, hitting $98.62. 8,153,979 shares of the company's stock traded hands, compared to its average volume of 8,875,050. The company has a market capitalization of $126.15 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 1.37 and a beta of 1.68. The company has a fifty day moving average of $92.79 and a two-hundred day moving average of $81.85. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. Lam Research Corporation has a one year low of $56.32 and a one year high of $102.59.

Lam Research Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors 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 0.93%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is currently 25.63%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Evercore ISI boosted their price objective on Lam Research from $95.00 to $99.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. TD Securities dropped their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. B. Riley reiterated a "buy" rating and set a $115.00 target price (up from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Deutsche Bank Aktiengesellschaft set a $70.00 price target on shares of Lam Research and gave the stock a "hold" rating in a research report on Thursday, April 24th. Finally, TD Cowen decreased their price objective on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $101.19.

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.