Lam Research Corporation (NASDAQ:LRCX) Shares Sold by Florida Financial Advisors LLC

Florida Financial Advisors LLC reduced its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 11.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 4,157 shares of the semiconductor company’s stock after selling 529 shares during the quarter. Florida Financial Advisors LLC’s holdings in Lam Research were worth $302,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of LRCX. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Lam Research during the 1st quarter worth about $26,000. West Paces Advisors Inc. acquired a new stake in shares of Lam Research in the fourth quarter worth approximately $27,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Lam Research in the fourth quarter worth approximately $27,000. Avalon Trust Co boosted its position in shares of Lam Research by 791.3% in the fourth quarter. Avalon Trust Co now owns 410 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 364 shares during the last quarter. Finally, Park Square Financial Group LLC acquired a new stake in shares of Lam Research in the fourth quarter worth approximately $31,000. 84.61% of the stock is owned by institutional investors and hedge funds.

Lam Research Trading Down 2.1%

LRCX opened at $99.62 on Tuesday. The firm has a market capitalization of $127.43 billion, a P/E ratio of 27.76, a P/E/G ratio of 1.44 and a beta of 1.68. The firm’s 50 day moving average is $89.02 and its 200-day moving average is $80.14. Lam Research Corporation has a 52-week low of $56.32 and a 52-week high of $108.23. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. The business’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the firm posted $7.79 earnings per share. Analysts expect that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were paid a $0.23 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.92%. Lam Research’s dividend payout ratio (DPR) is presently 25.63%.

Wall Street Analyst Weigh In

LRCX has been the topic of several research analyst reports. Needham & Company LLC decreased their target price on shares of Lam Research from $96.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company raised their target price on shares of Lam Research from $75.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. B. Riley reissued a “buy” rating and issued a $115.00 target price (up from $95.00) on shares of Lam Research in a research report on Wednesday, June 18th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on shares of Lam Research and gave the stock a “hold” rating in a research report on Thursday, April 24th. Finally, Stifel Nicolaus reduced their price target on shares of Lam Research from $100.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.19.

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.