Valley National Advisers Inc. Lowers Holdings in Lam Research Corporation (NASDAQ:LRCX)

Valley National Advisers Inc. trimmed its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 6.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,426 shares of the semiconductor company's stock after selling 2,976 shares during the quarter. Valley National Advisers Inc.'s holdings in Lam Research were worth $3,229,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fairway Wealth LLC lifted its stake 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 purchasing an additional 306 shares during the last quarter. West Paces Advisors Inc. acquired a new position in shares of Lam Research in the fourth quarter valued at about $27,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Lam Research in the fourth quarter valued at about $27,000. Bell Investment Advisors Inc increased its holdings in shares of Lam Research by 836.6% in the fourth quarter. Bell Investment Advisors Inc now owns 384 shares of the semiconductor company's stock valued at $28,000 after purchasing an additional 343 shares during the period. Finally, Avalon Trust Co boosted its stake in shares of Lam Research by 791.3% in the fourth quarter. Avalon Trust Co now owns 410 shares of the semiconductor company's stock worth $30,000 after buying an additional 364 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Performance

LRCX opened at $97.20 on Monday. The business's 50 day moving average is $82.59 and its 200-day moving average is $78.24. The stock has a market cap of $124.33 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 1.37 and a beta of 1.65. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business earned $7.79 earnings per share. The business's revenue for the quarter was up 24.4% on a year-over-year basis. On average, analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's payout ratio is 25.63%.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of recent analyst reports. Bank of America lowered their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Cantor Fitzgerald restated an "overweight" rating and issued a $115.00 target price (up previously from $90.00) on shares of Lam Research in a research report on Tuesday, June 24th. UBS Group decreased their target price on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Argus upgraded Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Oppenheimer restated an "outperform" rating and issued a $110.00 target price (up previously from $80.00) on shares of Lam Research in a research report on Tuesday, June 17th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $93.97.

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.

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