PKO Investment Management Joint Stock Co Decreases Position in Lam Research Co. (NASDAQ:LRCX)

PKO Investment Management Joint Stock Co decreased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 14.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 85,927 shares of the semiconductor company’s stock after selling 14,073 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Lam Research were worth $6,247,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LRCX. One Charles Private Wealth Services LLC raised its stake in shares of Lam Research by 843.4% in the fourth quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company’s stock worth $289,000 after purchasing an additional 3,576 shares during the last quarter. Brighton Jones LLC raised its position in Lam Research by 1,032.4% in the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock worth $1,025,000 after buying an additional 12,936 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Lam Research by 1,159.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 243,502 shares of the semiconductor company’s stock valued at $17,639,000 after acquiring an additional 224,164 shares during the period. Congress Asset Management Co. boosted its holdings in shares of Lam Research by 903.7% during the 4th quarter. Congress Asset Management Co. now owns 3,764 shares of the semiconductor company’s stock valued at $272,000 after acquiring an additional 3,389 shares during the last quarter. Finally, Montag A & Associates Inc. grew its stake in shares of Lam Research by 916.4% in the fourth quarter. Montag A & Associates Inc. now owns 17,798 shares of the semiconductor company’s stock worth $1,290,000 after acquiring an additional 16,047 shares during the period. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LRCX. Barclays lowered their price objective on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus dropped their price target on Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. TD Securities cut their price objective on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 24th. TD Cowen lowered their target price on Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.87.

Lam Research Price Performance

Shares of Lam Research stock opened at $93.41 on Tuesday. The company has a market capitalization of $119.48 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 1.47 and a beta of 1.65. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock’s 50-day simple moving average is $77.79 and its 200-day simple moving average is $77.18. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 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 analysts’ expectations of $4.64 billion. During the same period in the previous year, the firm earned $7.79 EPS. The firm’s revenue was up 24.4% compared to the same quarter last year. As a group, analysts expect that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be given 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 dividend yield of 0.98%. Lam Research’s dividend 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.