Keyvantage Wealth LLC Trims Stock Position in Lam Research Corporation (NASDAQ:LRCX)

Keyvantage Wealth LLC cut its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 5.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,550 shares of the semiconductor company’s stock after selling 414 shares during the period. Keyvantage Wealth LLC’s holdings in Lam Research were worth $476,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Smallwood Wealth Investment Management LLC purchased a new position in Lam Research during the first quarter worth about $26,000. West Paces Advisors Inc. purchased a new stake in shares of Lam Research in the 4th quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Lam Research in the 4th quarter valued at approximately $27,000. Park Square Financial Group LLC purchased a new stake in shares of Lam Research in the 4th quarter valued at approximately $31,000. Finally, Putney Financial Group LLC purchased a new stake in shares of Lam Research in the 4th quarter valued at approximately $36,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Trading Down 0.8%

NASDAQ LRCX opened at $96.96 on Friday. 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 Corporation has a 52 week low of $56.32 and a 52 week high of $102.59. The stock has a market capitalization of $124.02 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 1.37 and a beta of 1.68. The firm has a 50 day moving average of $92.49 and a two-hundred day moving average of $81.65.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS 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 company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the business posted $7.79 EPS. The firm’s revenue was up 24.4% on a year-over-year basis. As a group, research analysts expect that Lam Research Corporation will post 3.71 EPS for the current fiscal year.

Lam Research Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research’s dividend payout ratio (DPR) is presently 25.63%.

Wall Street Analyst Weigh In

LRCX has been the topic of a number of research analyst reports. Oppenheimer reissued an “outperform” rating and issued a $110.00 price target (up from $80.00) on shares of Lam Research in a research note on Tuesday, June 17th. TD Cowen reduced their price target on shares of Lam Research from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. 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 note on Tuesday, April 15th. Mizuho boosted their price target on shares of Lam Research from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, July 14th. Finally, Barclays reduced their price target on shares of Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $100.57.

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.