Triglav Skladi D.O.O. Sells 9,750 Shares of Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Triglav Skladi D.O.O. reduced its holdings in Lam Research Corporation by 66.1%, ending the first quarter with 5,000 shares worth $364,000.
• Lam Research reported $1.33 earnings per share for the last quarter, exceeding analysts' expectations, with a revenue of $5.17 billion, up 33.6% year-over-year.
• The company announced a quarterly dividend of $0.23 per share, with a current dividend yield of 0.9%.

Triglav Skladi D.O.O. reduced its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 66.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,000 shares of the semiconductor company's stock after selling 9,750 shares during the period. Triglav Skladi D.O.O.'s holdings in Lam Research were worth $364,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Meridian Wealth Management LLC grew its stake in Lam Research by 1.4% in the 1st quarter. Meridian Wealth Management LLC now owns 9,732 shares of the semiconductor company's stock valued at $707,000 after buying an additional 130 shares in the last quarter. GW&K Investment Management LLC grew its stake in Lam Research by 10.1% in the 1st quarter. GW&K Investment Management LLC now owns 1,534 shares of the semiconductor company's stock valued at $112,000 after buying an additional 141 shares in the last quarter. Citizens National Bank Trust Department grew its stake in Lam Research by 34.0% in the 1st quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock valued at $44,000 after buying an additional 153 shares in the last quarter. Cassaday & Co Wealth Management LLC grew its stake in Lam Research by 2.1% in the 1st quarter. Cassaday & Co Wealth Management LLC now owns 7,823 shares of the semiconductor company's stock valued at $569,000 after buying an additional 163 shares in the last quarter. Finally, SteelPeak Wealth LLC grew its stake in Lam Research by 0.4% in the 1st quarter. SteelPeak Wealth LLC now owns 42,064 shares of the semiconductor company's stock valued at $3,068,000 after buying an additional 178 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LRCX shares. Summit Insights lowered shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Thursday, July 31st. Stifel Nicolaus lifted their price objective on shares of Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. The Goldman Sachs Group started coverage on shares of Lam Research in a research report on Thursday, July 10th. They set a "buy" rating and a $115.00 price target for the company. TD Cowen boosted their price target on shares of Lam Research from $100.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Argus boosted their price target on shares of Lam Research from $105.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Seven equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $107.09.

Lam Research Price Performance

NASDAQ:LRCX traded up $1.46 during midday trading on Wednesday, hitting $106.74. The company had a trading volume of 12,115,388 shares, compared to its average volume of 11,507,004. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $107.49. The stock's fifty day moving average price is $96.79 and its 200-day moving average price is $83.51. The company has a market capitalization of $135.09 billion, a PE ratio of 25.66, a P/E/G ratio of 1.36 and a beta of 1.65. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly 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. The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The firm's revenue for the quarter was up 33.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 earnings per share. As a group, research analysts expect that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Dividend Announcement

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

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.