Baker Ellis Asset Management LLC Cuts Stock Holdings in Lam Research Co. (NASDAQ:LRCX)

Baker Ellis Asset Management LLC reduced its stake in Lam Research Co. (NASDAQ:LRCX) by 0.5% during the first quarter, HoldingsChannel reports. The firm owned 124,330 shares of the semiconductor company’s stock after selling 660 shares during the period. Lam Research comprises about 1.3% of Baker Ellis Asset Management LLC’s portfolio, making the stock its 21st biggest holding. Baker Ellis Asset Management LLC’s holdings in Lam Research were worth $9,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of LRCX. Financial Perspectives Inc boosted its stake in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Fairway Wealth LLC raised its position in Lam Research by 900.0% in the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after purchasing an additional 306 shares during the period. Midwest Capital Advisors LLC bought a new stake in Lam Research in the fourth quarter worth $27,000. West Paces Advisors Inc. purchased a new stake in Lam Research during the fourth quarter valued at about $27,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of Lam Research during the fourth quarter valued at about $27,000. 84.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LRCX has been the subject of a number of recent research reports. Barclays lowered their target price on Lam Research from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Oppenheimer decreased their target price on shares of Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. TD Cowen lowered their price target on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 24th. TD Securities cut their price target on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company decreased their price objective on shares of Lam Research from $85.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.87.

Lam Research Price Performance

LRCX opened at $91.00 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 1.73 and a debt-to-equity ratio of 0.51. The company has a market cap of $116.40 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. The stock has a fifty day simple moving average of $75.32 and a two-hundred day simple moving average of $76.63. Lam Research Co. has a 12-month low of $56.32 and a 12-month high of $113.00.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. Lam Research had a net margin of 26.49% and a return on equity of 51.86%. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the business earned $7.79 EPS. Lam Research’s quarterly revenue was up 24.4% compared to the same quarter last year. Research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared 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. This represents a $0.92 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Wednesday, June 18th. Lam Research’s dividend payout ratio 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.