Western Wealth Management LLC Has $214,000 Position in Lam Research Corporation (NASDAQ:LRCX)

Western Wealth Management LLC reduced its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 59.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,939 shares of the semiconductor company's stock after selling 4,292 shares during the quarter. Western Wealth Management LLC's holdings in Lam Research were worth $214,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank increased its stake in shares of Lam Research by 944.0% in the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock valued at $21,291,000 after buying an additional 266,527 shares in the last quarter. Cerity Partners LLC grew its holdings in Lam Research by 781.9% during the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock worth $23,920,000 after acquiring an additional 293,619 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Lam Research in the 4th quarter valued at about $6,296,000. Pitcairn Co. bought a new position in shares of Lam Research in the fourth quarter worth about $1,013,000. Finally, First Citizens Bank & Trust Co. lifted its position in shares of Lam Research by 47.8% during the first quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company's stock worth $8,862,000 after purchasing an additional 39,414 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. TD Cowen lowered their target price on Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company cut their price target on Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Evercore ISI lifted their price objective on Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. UBS Group cut their target price on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the stock a "hold" rating in a research report on Thursday, April 24th. Seven 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.97.

Lam Research Stock Up 0.1%

Lam Research stock traded up $0.14 during mid-day trading on Monday, reaching $97.34. The company's stock had a trading volume of 8,216,650 shares, compared to its average volume of 12,307,360. The business's 50 day simple moving average is $82.59 and its 200 day simple moving average is $78.24. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $113.00. The company has a market capitalization of $124.51 billion, a price-to-earnings ratio of 27.13, a price-to-earnings-growth ratio of 1.37 and a beta of 1.65.

Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results 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 for the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. Lam Research's quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $7.79 earnings per share. As a group, research analysts anticipate that Lam Research Corporation will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

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

Lam Research 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.