Abacus FCF Advisors LLC Decreases Position in Lam Research Co. (NASDAQ:LRCX)

Abacus FCF Advisors LLC lessened its holdings in Lam Research Co. (NASDAQ:LRCX) by 64.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,615 shares of the semiconductor company’s stock after selling 75,607 shares during the quarter. Abacus FCF Advisors LLC’s holdings in Lam Research were worth $3,098,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Financial Perspectives Inc grew its holdings in Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 309 shares during the last quarter. Fairway Wealth LLC grew its holdings in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 306 shares during the last quarter. Midwest Capital Advisors LLC bought a new stake in Lam Research in the 4th quarter worth $27,000. West Paces Advisors Inc. bought a new stake in Lam Research in the 4th quarter worth $27,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in Lam Research in the 4th quarter worth $27,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 2.3%

Shares of Lam Research stock opened at $88.30 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54. The stock has a market capitalization of $112.95 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. The company has a 50-day simple moving average of $74.80 and a two-hundred day simple moving average of $76.53.

Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. The business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the previous year, the company earned $7.79 earnings per share. On average, analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 1.04%. Lam Research’s dividend payout ratio (DPR) is presently 25.63%.

Analysts Set New Price Targets

LRCX has been the topic of a number of recent analyst reports. Argus raised shares of Lam Research to a “strong-buy” rating in a report on Friday, April 25th. Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and lifted their target price for the company from $75.00 to $125.00 in a research note on Thursday, February 20th. Evercore ISI lifted their target price on shares of Lam Research from $95.00 to $99.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Stifel Nicolaus cut their target price on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the company a “hold” rating in a research note on Thursday, April 24th. Seven investment 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.87.

About Lam Research

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.