Victory Capital Management Inc. Sells 26,983 Shares of Lam Research Corporation (NASDAQ:LRCX)

Victory Capital Management Inc. decreased its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,905,320 shares of the semiconductor company's stock after selling 26,983 shares during the period. Victory Capital Management Inc. owned approximately 0.15% of Lam Research worth $138,517,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Citizens National Bank Trust Department boosted its holdings in shares of Lam Research by 34.0% in the first quarter. Citizens National Bank Trust Department now owns 603 shares of the semiconductor company's stock valued at $44,000 after acquiring an additional 153 shares in the last quarter. SteelPeak Wealth LLC boosted its holdings in Lam Research by 0.4% during the first quarter. SteelPeak Wealth LLC now owns 42,064 shares of the semiconductor company's stock worth $3,068,000 after buying an additional 178 shares in the last quarter. Transcend Capital Advisors LLC boosted its holdings in Lam Research by 2.3% during the first quarter. Transcend Capital Advisors LLC now owns 8,065 shares of the semiconductor company's stock worth $586,000 after buying an additional 182 shares in the last quarter. Capital Advisors Inc. OK boosted its holdings in Lam Research by 0.6% during the first quarter. Capital Advisors Inc. OK now owns 29,927 shares of the semiconductor company's stock worth $2,176,000 after buying an additional 183 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC boosted its holdings in Lam Research by 33.3% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 800 shares of the semiconductor company's stock worth $58,000 after buying an additional 200 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LRCX. Cantor Fitzgerald restated an "overweight" rating and set a $115.00 target price (up from $90.00) on shares of Lam Research in a report on Tuesday, June 24th. TD Cowen lowered their target price on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Barclays lowered their target price on shares of Lam Research from $75.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group initiated coverage on shares of Lam Research in a research note on Thursday, July 10th. They set a "buy" rating and a $115.00 price target for the company. Finally, Needham & Company LLC lowered their price objective on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating for the company in a research 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $99.14.

Lam Research Price Performance

Shares of LRCX stock traded up $0.42 during trading on Thursday, hitting $100.79. The company had a trading volume of 9,744,562 shares, compared to its average volume of 12,342,620. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The stock's 50-day moving average is $90.08 and its two-hundred day moving average is $80.43. The stock has a market capitalization of $128.92 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.42 and a beta of 1.68. Lam Research Corporation has a 52 week low of $56.32 and a 52 week high of $102.19.

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

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.91%. The ex-dividend date was Wednesday, June 18th. Lam Research's dividend payout ratio is currently 25.63%.

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.