Lmcg Investments LLC Decreases Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Lmcg Investments LLC reduced its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 12.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,267 shares of the semiconductor company’s stock after selling 15,133 shares during the quarter. Lmcg Investments LLC’s holdings in Lam Research were worth $7,508,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Lam Research by 892.7% during the 4th quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock valued at $8,724,498,000 after buying an additional 108,619,564 shares in the last quarter. FMR LLC increased its position in Lam Research by 1,032.6% during the 4th quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock valued at $2,891,453,000 after buying an additional 36,496,689 shares in the last quarter. Ameriprise Financial Inc. increased its position in Lam Research by 950.5% during the 4th quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock valued at $2,495,128,000 after buying an additional 31,255,726 shares in the last quarter. Geode Capital Management LLC increased its position in Lam Research by 907.1% during the 4th quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock valued at $2,265,610,000 after buying an additional 28,307,499 shares in the last quarter. Finally, Norges Bank acquired a new position in Lam Research during the 4th quarter valued at about $1,661,672,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Stock Up 1.3%

Lam Research stock opened at $84.77 on Thursday. The firm has a market cap of $108.43 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 1.47 and a beta of 1.64. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The business’s 50-day moving average price is $74.00 and its 200 day moving average price is $76.14. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the business posted $7.79 earnings per share. Lam Research’s revenue for the quarter was up 24.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Lam Research Co. will post 3.71 earnings per share for the current year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research’s payout ratio is currently 25.63%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Bank of America reduced their target price 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. Susquehanna raised Lam Research from a “neutral” rating to a “positive” rating and increased their price objective for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Oppenheimer cut their price objective on Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Argus raised Lam Research to a “strong-buy” rating in a report on Friday, April 25th. Finally, B. Riley reissued a “buy” rating on shares of Lam Research in a report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lam Research currently has an average rating of “Moderate Buy” and an average target price of $91.56.

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.