Transform Wealth LLC Reduces Stock Position in Lam Research Co. (NASDAQ:LRCX)

Transform Wealth LLC reduced its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 0.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 237,423 shares of the semiconductor company’s stock after selling 911 shares during the quarter. Lam Research accounts for about 1.0% of Transform Wealth LLC’s investment portfolio, making the stock its 22nd largest holding. Transform Wealth LLC’s holdings in Lam Research were worth $17,316,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of LRCX. Legacy Wealth Asset Management LLC increased its holdings in Lam Research by 1.9% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company’s stock worth $963,000 after acquiring an additional 248 shares during the period. Walker Asset Management LLC increased its holdings in Lam Research by 7.8% during the 1st quarter. Walker Asset Management LLC now owns 3,862 shares of the semiconductor company’s stock worth $281,000 after acquiring an additional 281 shares during the period. Paladin Wealth LLC increased its holdings in Lam Research by 4.0% during the 1st quarter. Paladin Wealth LLC now owns 7,489 shares of the semiconductor company’s stock worth $544,000 after acquiring an additional 289 shares during the period. Fairway Wealth LLC increased its holdings in Lam Research by 900.0% during the 4th quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 306 shares during the period. Finally, Financial Perspectives Inc increased its holdings in Lam Research by 908.8% during the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 309 shares during the period. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Lam Research Trading Up 3.1%

Shares of LRCX opened at $91.00 on Wednesday. The stock has a market capitalization 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. The firm 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 twelve month low of $56.32 and a twelve month high of $113.00.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating 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 business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the company posted $7.79 EPS. The firm’s revenue for the quarter was up 24.4% compared to the same quarter last year. On average, research analysts anticipate that Lam Research Co. will post 3.71 EPS for the current year.

Lam Research Announces Dividend

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 $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.01%. Lam Research’s dividend payout ratio is 25.63%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LRCX. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of Lam Research in a report on Thursday, April 24th. Oppenheimer decreased their price target on shares of Lam Research from $95.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Stifel Nicolaus decreased their price target on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Mizuho increased their price target 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. Finally, B. Riley reissued a “buy” rating on shares of Lam Research in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.87.

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.