Wolff Wiese Magana LLC Sells 957 Shares of Lam Research Corporation (NASDAQ:LRCX)

Wolff Wiese Magana LLC cut its holdings in Lam Research Corporation (NASDAQ:LRCX) by 25.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,870 shares of the semiconductor company’s stock after selling 957 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Lam Research were worth $209,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Investment Partners Asset Management Inc. raised its holdings in Lam Research by 5.4% in the first quarter. Investment Partners Asset Management Inc. now owns 4,373 shares of the semiconductor company’s stock worth $318,000 after purchasing an additional 226 shares during the period. Childress Capital Advisors LLC raised its holdings in Lam Research by 6.1% in the first quarter. Childress Capital Advisors LLC now owns 4,178 shares of the semiconductor company’s stock worth $304,000 after purchasing an additional 240 shares during the period. Salem Investment Counselors Inc. raised its holdings in Lam Research by 5.5% in the first quarter. Salem Investment Counselors Inc. now owns 4,716 shares of the semiconductor company’s stock worth $344,000 after purchasing an additional 246 shares during the period. Legacy Wealth Asset Management LLC raised its holdings in Lam Research by 1.9% in the first quarter. Legacy Wealth Asset Management LLC now owns 13,243 shares of the semiconductor company’s stock worth $963,000 after purchasing an additional 248 shares during the period. Finally, ORG Partners LLC raised its holdings in Lam Research by 19.2% in the first quarter. ORG Partners LLC now owns 1,562 shares of the semiconductor company’s stock worth $114,000 after purchasing an additional 252 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Argus upgraded shares of Lam Research to a “strong-buy” rating in a report on Friday, April 25th. Oppenheimer restated an “outperform” rating and set a $110.00 price objective (up from $80.00) on shares of Lam Research in a report on Tuesday, June 17th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Lam Research in a report on Thursday, April 24th. Morgan Stanley raised their price objective on shares of Lam Research from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. Finally, UBS Group dropped their price objective on shares of Lam Research from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Seven equities research 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.78.

Lam Research Stock Down 1.9%

Shares of LRCX stock opened at $90.49 on Friday. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $113.00. The firm’s fifty day moving average price is $79.62 and its two-hundred day moving average price is $77.57. The firm has a market capitalization of $115.75 billion, a P/E ratio of 25.22, a PEG ratio of 1.27 and a beta of 1.65.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data 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. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. Lam Research’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same period in the previous year, the business earned $7.79 EPS. On average, equities analysts predict that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Wednesday, June 18th will be paid a dividend of $0.23 per share. The ex-dividend date is Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.02%. 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.