Chevy Chase Trust Holdings LLC Sells 1,974 Shares of Lam Research Corporation (NASDAQ:LRCX)

Chevy Chase Trust Holdings LLC decreased its holdings in Lam Research Corporation (NASDAQ:LRCX) by 0.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 681,706 shares of the semiconductor company’s stock after selling 1,974 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Lam Research worth $49,560,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. One Charles Private Wealth Services LLC raised its stake in Lam Research by 843.4% during the fourth quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company’s stock worth $289,000 after acquiring an additional 3,576 shares in the last quarter. Brighton Jones LLC increased its position in Lam Research by 1,032.4% during the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock worth $1,025,000 after purchasing an additional 12,936 shares in the last quarter. Sigma Planning Corp lifted its stake in Lam Research by 940.0% in the 4th quarter. Sigma Planning Corp now owns 18,522 shares of the semiconductor company’s stock valued at $1,338,000 after purchasing an additional 16,741 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in Lam Research by 865.2% in the 4th quarter. First Horizon Advisors Inc. now owns 2,413 shares of the semiconductor company’s stock valued at $174,000 after purchasing an additional 2,163 shares during the last quarter. Finally, Wealthspire Advisors LLC boosted its position in Lam Research by 981.4% in the fourth quarter. Wealthspire Advisors LLC now owns 17,345 shares of the semiconductor company’s stock valued at $1,253,000 after buying an additional 15,741 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LRCX. UBS Group lowered their price target on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, April 14th. Argus raised Lam Research to a “strong-buy” rating in a report on Friday, April 25th. Oppenheimer reissued an “outperform” rating and set a $110.00 price target (up from $80.00) on shares of Lam Research in a research note on Tuesday, June 17th. TD Cowen lowered their price objective on Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Finally, Evercore ISI raised their price objective on shares of Lam Research from $95.00 to $99.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lam Research presently has an average rating of “Moderate Buy” and an average target price of $93.97.

Lam Research Price Performance

Shares of LRCX opened at $95.63 on Wednesday. The firm has a market cap of $122.32 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 1.29 and a beta of 1.65. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $113.00. The business’s 50 day moving average price is $80.64 and its two-hundred day moving average price is $77.81. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.64 and a current ratio of 2.45.

Lam Research (NASDAQ:LRCX) last released 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. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. Lam Research’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.79 EPS. On average, equities analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The company 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 $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research’s payout ratio is 25.63%.

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.