Los Angeles Capital Management LLC Cuts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Los Angeles Capital Management LLC lowered its position in Lam Research Co. (NASDAQ:LRCXGet Rating) by 0.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,734 shares of the semiconductor company’s stock after selling 352 shares during the period. Los Angeles Capital Management LLC’s holdings in Lam Research were worth $20,824,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. CWM LLC purchased a new position in shares of Lam Research in the 4th quarter worth approximately $1,114,000. FDx Advisors Inc. boosted its position in Lam Research by 0.7% in the fourth quarter. FDx Advisors Inc. now owns 2,426 shares of the semiconductor company’s stock worth $1,745,000 after purchasing an additional 18 shares during the last quarter. Pinnacle Financial Partners Inc. bought a new position in Lam Research in the 4th quarter valued at $222,000. Castle Rock Wealth Management LLC increased its position in shares of Lam Research by 3.9% during the 4th quarter. Castle Rock Wealth Management LLC now owns 566 shares of the semiconductor company’s stock valued at $343,000 after purchasing an additional 21 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Lam Research by 9.0% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 532,962 shares of the semiconductor company’s stock worth $383,280,000 after purchasing an additional 44,002 shares during the period. 82.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LRCX has been the subject of several research reports. UBS Group increased their price target on shares of Lam Research from $510.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Piper Sandler reduced their target price on shares of Lam Research from $596.00 to $567.00 and set a “neutral” rating for the company in a research report on Thursday, May 26th. Morgan Stanley lowered their price target on shares of Lam Research from $625.00 to $550.00 and set an “overweight” rating on the stock in a report on Monday, July 25th. Wells Fargo & Company increased their price objective on Lam Research from $460.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, July 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Lam Research from $560.00 to $480.00 in a research note on Monday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $613.32.

Lam Research Trading Down 2.2 %

Shares of LRCX stock opened at $519.97 on Friday. Lam Research Co. has a 52-week low of $375.87 and a 52-week high of $731.85. The business’s fifty day moving average is $457.55 and its 200 day moving average is $501.33. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.82 and a current ratio of 2.69. The company has a market capitalization of $72.13 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.20 and a beta of 1.33.

Lam Research (NASDAQ:LRCXGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.30 by $1.53. The firm had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.21 billion. Lam Research had a return on equity of 75.71% and a net margin of 26.73%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the company posted $8.09 EPS. On average, equities research analysts anticipate that Lam Research Co. will post 37.6 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 6th. Stockholders of record on Wednesday, June 15th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Tuesday, June 14th. Lam Research’s payout ratio is 18.32%.

About Lam Research

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

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