Lam Research Co. (NASDAQ:LRCX) Position Reduced by Boston Private Wealth LLC

Boston Private Wealth LLC cut its position in shares of Lam Research Co. (NASDAQ:LRCX) by 5.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,542 shares of the semiconductor company’s stock after selling 92 shares during the quarter. Boston Private Wealth LLC’s holdings in Lam Research were worth $918,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Synovus Financial Corp increased its holdings in shares of Lam Research by 11.0% in the 1st quarter. Synovus Financial Corp now owns 3,091 shares of the semiconductor company’s stock valued at $1,846,000 after purchasing an additional 307 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of Lam Research by 1.9% in the 1st quarter. Rockefeller Capital Management L.P. now owns 8,326 shares of the semiconductor company’s stock valued at $4,956,000 after purchasing an additional 153 shares during the period. Fiera Capital Corp increased its holdings in shares of Lam Research by 4.9% in the 1st quarter. Fiera Capital Corp now owns 11,563 shares of the semiconductor company’s stock valued at $6,883,000 after purchasing an additional 543 shares during the period. Journey Advisory Group LLC acquired a new position in shares of Lam Research in the 1st quarter valued at about $489,000. Finally, Barings LLC increased its holdings in shares of Lam Research by 21.6% in the 1st quarter. Barings LLC now owns 1,581 shares of the semiconductor company’s stock valued at $941,000 after purchasing an additional 281 shares during the period. 82.22% of the stock is owned by institutional investors.

LRCX opened at $640.77 on Friday. The company has a market capitalization of $91.39 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 0.74 and a beta of 1.27. Lam Research Co. has a 1-year low of $274.51 and a 1-year high of $673.80. The company has a 50 day simple moving average of $630.24. The company has a quick ratio of 2.43, a current ratio of 3.13 and a debt-to-equity ratio of 0.93.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Tuesday, April 20th. The semiconductor company reported $7.49 EPS for the quarter, topping the consensus estimate of $6.56 by $0.93. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Lam Research had a return on equity of 65.20% and a net margin of 26.07%. Lam Research’s quarterly revenue was up 53.7% compared to the same quarter last year. During the same period last year, the business earned $3.98 earnings per share. Equities research analysts anticipate that Lam Research Co. will post 26.71 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 7th. Investors of record on Wednesday, June 16th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, June 15th. This represents a $5.20 annualized dividend and a yield of 0.81%. Lam Research’s dividend payout ratio (DPR) is currently 32.60%.

In related news, CEO Timothy Archer sold 4,465 shares of the firm’s stock in a transaction on Monday, May 10th. The stock was sold at an average price of $621.41, for a total value of $2,774,595.65. 0.34% of the stock is owned by company insiders.

LRCX has been the topic of a number of research reports. Barclays upped their target price on Lam Research from $600.00 to $700.00 and gave the company an “overweight” rating in a report on Thursday, April 22nd. Citigroup increased their price objective on Lam Research from $660.00 to $750.00 in a report on Monday, April 19th. KeyCorp increased their price objective on Lam Research from $583.00 to $755.00 and gave the stock an “overweight” rating in a report on Thursday, April 22nd. Stifel Nicolaus increased their price objective on Lam Research from $740.00 to $780.00 and gave the stock an “outperform” rating in a report on Thursday, April 22nd. Finally, Morgan Stanley increased their price objective on Lam Research from $568.00 to $726.00 and gave the stock an “overweight” rating in a report on Thursday, April 22nd. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $663.41.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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