Lyell Wealth Management LP Sells 430 Shares of Lam Research Corporation (NASDAQ:LRCX)

Lyell Wealth Management LP reduced its position in Lam Research Corporation (NASDAQ:LRCX) by 7.7% during the first quarter, Holdings Channel.com reports. The firm owned 5,170 shares of the semiconductor company’s stock after selling 430 shares during the quarter. Lyell Wealth Management LP’s holdings in Lam Research were worth $376,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LRCX. Hoxton Planning & Management LLC purchased a new stake in Lam Research in the 1st quarter valued at $335,000. Foster & Motley Inc. raised its position in Lam Research by 8.2% in the 1st quarter. Foster & Motley Inc. now owns 14,058 shares of the semiconductor company’s stock valued at $1,022,000 after buying an additional 1,070 shares during the last quarter. Natixis Advisors LLC raised its position in Lam Research by 35.3% in the 1st quarter. Natixis Advisors LLC now owns 720,180 shares of the semiconductor company’s stock valued at $52,357,000 after buying an additional 187,842 shares during the last quarter. NorthRock Partners LLC raised its position in Lam Research by 20.6% in the 1st quarter. NorthRock Partners LLC now owns 16,221 shares of the semiconductor company’s stock valued at $1,182,000 after buying an additional 2,775 shares during the last quarter. Finally, Tower Bridge Advisors raised its position in Lam Research by 262.2% in the 1st quarter. Tower Bridge Advisors now owns 141,450 shares of the semiconductor company’s stock valued at $10,283,000 after buying an additional 102,395 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Down 4.3%

LRCX stock opened at $94.84 on Friday. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $121.31 billion, a PE ratio of 22.80, a PEG ratio of 1.40 and a beta of 1.68. Lam Research Corporation has a twelve month low of $56.32 and a twelve month high of $102.59. The stock has a 50-day simple moving average of $93.65 and a two-hundred day simple moving average of $82.23.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $4.99 billion. Lam Research had a return on equity of 59.69% and a net margin of 29.07%. The company’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. On average, equities analysts predict that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research’s payout ratio is presently 25.63%.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of analyst reports. TD Securities lowered their price target on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Summit Insights lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley raised their target price on Lam Research from $87.00 to $94.00 and gave the company an “equal weight” rating in a research report on Thursday. Evercore ISI raised their target price on Lam Research from $95.00 to $99.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the company a “hold” rating in a research report on Thursday, April 24th. Eight analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.05.

Lam Research Company 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.