Mill Capital Management LLC Decreases Position in Lam Research Corporation (NASDAQ:LRCX)

Mill Capital Management LLC decreased its position in Lam Research Corporation (NASDAQ:LRCX) by 12.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,000 shares of the semiconductor company’s stock after selling 5,000 shares during the period. Mill Capital Management LLC’s holdings in Lam Research were worth $2,544,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. One Charles Private Wealth Services LLC grew its stake in Lam Research by 843.4% in the 4th quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company’s stock valued at $289,000 after buying an additional 3,576 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of Lam Research by 1,032.4% in the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock worth $1,025,000 after acquiring an additional 12,936 shares during the period. Sigma Planning Corp grew its position in shares of Lam Research by 940.0% in the fourth quarter. Sigma Planning Corp now owns 18,522 shares of the semiconductor company’s stock valued at $1,338,000 after purchasing an additional 16,741 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Lam Research by 865.2% in the fourth quarter. First Horizon Advisors Inc. now owns 2,413 shares of the semiconductor company’s stock valued at $174,000 after purchasing an additional 2,163 shares in the last quarter. Finally, Wealthspire Advisors LLC raised its stake in shares of Lam Research by 981.4% during the 4th quarter. Wealthspire Advisors LLC now owns 17,345 shares of the semiconductor company’s stock valued at $1,253,000 after purchasing an additional 15,741 shares during the period. 84.61% of the stock is owned by institutional investors.

Lam Research Trading Up 4.4%

Shares of NASDAQ:LRCX opened at $95.63 on Wednesday. The firm has a market capitalization of $122.32 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 1.29 and a beta of 1.65. The business’s 50 day moving average price is $80.64 and its 200-day moving average price is $77.81. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $113.00.

Lam Research (NASDAQ:LRCX) last posted 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 27.18% and a return on equity of 53.21%. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the firm posted $7.79 earnings per share. The company’s revenue for the quarter was up 24.4% on a year-over-year basis. On average, equities research analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.96%. Lam Research’s dividend payout ratio (DPR) is currently 25.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. TD Cowen decreased their price target on Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Evercore ISI upped their target price on shares of Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Stifel Nicolaus cut their price target on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company decreased their price target on shares of Lam Research from $85.00 to $75.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Finally, Jefferies Financial Group lifted their price objective on Lam Research from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, March 28th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lam Research presently has an average rating of “Moderate Buy” and an average price target of $93.97.

Lam Research 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.