Lam Research Corporation (NASDAQ:LRCX) Shares Sold by Alta Wealth Advisors LLC

Alta Wealth Advisors LLC cut its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 11.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,845 shares of the semiconductor company’s stock after selling 2,025 shares during the period. Alta Wealth Advisors LLC’s holdings in Lam Research were worth $1,152,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LRCX. Falcon Wealth Planning purchased a new stake in shares of Lam Research during the 1st quarter worth approximately $407,000. CNB Bank purchased a new position in shares of Lam Research during the first quarter worth about $798,000. First Merchants Corp lifted its holdings in shares of Lam Research by 0.3% during the first quarter. First Merchants Corp now owns 181,965 shares of the semiconductor company’s stock worth $13,229,000 after purchasing an additional 559 shares during the period. PDS Planning Inc increased its stake in shares of Lam Research by 9.5% during the first quarter. PDS Planning Inc now owns 7,327 shares of the semiconductor company’s stock worth $533,000 after acquiring an additional 637 shares during the period. Finally, KPP Advisory Services LLC grew its holdings in Lam Research by 15.6% during the first quarter. KPP Advisory Services LLC now owns 12,148 shares of the semiconductor company’s stock worth $883,000 after acquiring an additional 1,639 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Trading Up 0.9%

NASDAQ LRCX opened at $96.84 on Friday. The company has a market capitalization of $123.87 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 1.35 and a beta of 1.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $113.00. The company’s fifty day moving average price is $81.92 and its two-hundred day moving average price is $78.07.

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, beating analysts’ consensus estimates of $1.00 by $0.04. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the prior year, the business posted $7.79 EPS. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. As a group, research analysts predict that Lam Research Corporation will post 3.71 earnings per share 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. Stockholders of record on Wednesday, June 18th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.95%. Lam Research’s payout ratio is 25.63%.

Analyst Ratings Changes

Several research firms have weighed in on LRCX. Morgan Stanley raised their target price on shares of Lam Research from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Oppenheimer reaffirmed an “outperform” rating and set a $110.00 price target (up previously from $80.00) on shares of Lam Research in a research note on Tuesday, June 17th. Evercore ISI boosted their target price on Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. TD Securities reduced their price objective on Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $115.00 target price (up previously from $90.00) on shares of Lam Research in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.97.

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.