Lam Research Co. (NASDAQ:LRCX) Shares Sold by State Street Corp

State Street Corp lowered its position in Lam Research Co. (NASDAQ:LRCXGet Rating) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,844,032 shares of the semiconductor company’s stock after selling 114,018 shares during the period. State Street Corp’s holdings in Lam Research were worth $3,150,308,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LRCX. Vectors Research Management LLC grew its holdings in shares of Lam Research by 133.3% in the 4th quarter. Vectors Research Management LLC now owns 35 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 20 shares during the period. Stonebridge Capital Advisors LLC lifted its stake in Lam Research by 100.0% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company’s stock valued at $27,000 after buying an additional 19 shares in the last quarter. Capital Advisory Group Advisory Services LLC purchased a new stake in Lam Research in the 1st quarter valued at approximately $27,000. OLD Second National Bank of Aurora purchased a new stake in Lam Research in the 1st quarter valued at approximately $27,000. Finally, Delos Wealth Advisors LLC purchased a new stake in Lam Research in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 80.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Lam Research from $560.00 to $480.00 in a research note on Monday, July 18th. Citigroup reduced their target price on Lam Research from $720.00 to $700.00 in a research note on Thursday, July 28th. Morgan Stanley reduced their target price on Lam Research from $550.00 to $543.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 6th. StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, September 2nd. Finally, Bank of America reduced their target price on Lam Research from $650.00 to $540.00 and set a “buy” rating on the stock in a research note on Wednesday, June 29th. Ten equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $610.30.

Lam Research Trading Up 2.6 %

LRCX stock opened at $450.78 on Friday. The company has a market cap of $61.75 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.02 and a beta of 1.36. The company has a quick ratio of 1.82, a current ratio of 2.69 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $459.29 and a 200-day simple moving average of $480.01. Lam Research Co. has a 52 week low of $375.87 and a 52 week high of $731.85.

Lam Research (NASDAQ:LRCXGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The semiconductor company reported $8.83 EPS for the quarter, topping analysts’ consensus estimates of $7.30 by $1.53. The business had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.21 billion. Lam Research had a return on equity of 75.71% and a net margin of 26.73%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $8.09 EPS. On average, equities research analysts expect that Lam Research Co. will post 37.31 EPS for the current year.

Lam Research Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th will be issued a $1.725 dividend. This is an increase from Lam Research’s previous quarterly dividend of $1.50. This represents a $6.90 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Tuesday, September 13th. Lam Research’s dividend payout ratio is currently 18.32%.

Lam Research Profile

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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.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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