Miracle Mile Advisors LLC Sells 241 Shares of Lam Research Co. (NASDAQ:LRCX)

Miracle Mile Advisors LLC reduced its position in Lam Research Co. (NASDAQ:LRCX) by 4.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,961 shares of the semiconductor company’s stock after selling 241 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Lam Research were worth $361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Centerpoint Advisors LLC boosted its position in shares of Lam Research by 900.0% in the fourth quarter. Centerpoint Advisors LLC now owns 1,000 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 900 shares during the period. Huntington National Bank lifted its holdings in shares of Lam Research by 944.0% in the fourth quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company’s stock worth $21,291,000 after buying an additional 266,527 shares in the last quarter. ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Lam Research by 1,401.1% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 70,475 shares of the semiconductor company’s stock worth $5,090,000 after buying an additional 65,780 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Lam Research by 781.9% in the fourth quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company’s stock worth $23,920,000 after buying an additional 293,619 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Lam Research in the fourth quarter worth $6,296,000. 84.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on LRCX. Argus raised shares of Lam Research to a “strong-buy” rating in a report on Friday, April 25th. Mizuho boosted their target price on shares of Lam Research from $87.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Needham & Company LLC lowered their target price on shares of Lam Research from $96.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Lam Research in a report on Thursday, April 24th. Finally, Susquehanna raised shares of Lam Research from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $75.00 to $125.00 in a report on Thursday, February 20th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lam Research presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.87.

Lam Research Price Performance

LRCX opened at $91.00 on Wednesday. The business has a fifty day moving average of $75.32 and a 200 day moving average of $76.63. The stock has a market cap of $116.40 billion, a P/E ratio of 27.64, 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. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00.

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. The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The business’s revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the firm earned $7.79 earnings per share. As a group, sell-side analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The business 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 dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Wednesday, June 18th. Lam Research’s dividend payout ratio (DPR) is presently 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.