Yousif Capital Management LLC Sells 2,448 Shares of Lam Research Co. (NASDAQ:LRCX)

Yousif Capital Management LLC cut its stake in Lam Research Co. (NASDAQ:LRCX) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 160,622 shares of the semiconductor company’s stock after selling 2,448 shares during the quarter. Yousif Capital Management LLC’s holdings in Lam Research were worth $11,677,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Lam Research by 892.7% during the fourth quarter. Vanguard Group Inc. now owns 120,787,727 shares of the semiconductor company’s stock worth $8,724,498,000 after purchasing an additional 108,619,564 shares during the last quarter. FMR LLC lifted its position in shares of Lam Research by 1,032.6% during the fourth quarter. FMR LLC now owns 40,031,194 shares of the semiconductor company’s stock worth $2,891,453,000 after purchasing an additional 36,496,689 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Lam Research by 950.5% during the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company’s stock worth $2,495,128,000 after purchasing an additional 31,255,726 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Lam Research by 907.1% during the fourth quarter. Geode Capital Management LLC now owns 31,428,010 shares of the semiconductor company’s stock worth $2,265,610,000 after purchasing an additional 28,307,499 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Lam Research during the fourth quarter worth $1,661,672,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

LRCX opened at $91.00 on Wednesday. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. 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 company has a market cap of $116.40 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. The firm’s 50-day moving average price is $75.32 and its 200-day moving average price is $76.63.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share 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 for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the company earned $7.79 EPS. Lam Research’s quarterly revenue was up 24.4% on a year-over-year basis. As a group, equities analysts anticipate that Lam Research Co. will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.01%. Lam Research’s dividend payout ratio (DPR) is 25.63%.

Analyst Upgrades and Downgrades

LRCX has been the subject of several recent research reports. Susquehanna upgraded Lam Research from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $75.00 to $125.00 in a report on Thursday, February 20th. Barclays decreased their price objective on Lam Research from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company decreased their price objective on Lam Research from $85.00 to $75.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Oppenheimer decreased their price objective on Lam Research from $95.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Finally, Evercore ISI lifted their price objective on 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.87.

Lam Research Company Profile

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.