Lam Research Corporation (NASDAQ:LRCX) Shares Sold by Trust Asset Management LLC

Trust Asset Management LLC lessened its stake in Lam Research Corporation (NASDAQ:LRCX) by 4.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,872 shares of the semiconductor company’s stock after selling 708 shares during the quarter. Trust Asset Management LLC’s holdings in Lam Research were worth $1,081,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Smallwood Wealth Investment Management LLC acquired a new position in Lam Research in the first quarter valued at approximately $26,000. West Paces Advisors Inc. purchased a new position in shares of Lam Research during the 4th quarter valued at approximately $27,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Lam Research in the 4th quarter valued at $27,000. Park Square Financial Group LLC purchased a new stake in Lam Research during the fourth quarter worth $31,000. Finally, Putney Financial Group LLC acquired a new stake in Lam Research during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

Lam Research Stock Performance

Lam Research stock opened at $101.75 on Monday. The firm has a 50 day simple moving average of $95.53 and a 200-day simple moving average of $83.04. The stock has a market cap of $130.15 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 1.32 and a beta of 1.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.21 and a quick ratio of 1.55. Lam Research Corporation has a 1-year low of $56.32 and a 1-year high of $102.59.

Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The firm’s quarterly revenue was up 33.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 earnings per share. On average, analysts expect that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, June 18th. Lam Research’s dividend payout ratio (DPR) is presently 22.12%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LRCX shares. Deutsche Bank Aktiengesellschaft set a $70.00 price objective on shares of Lam Research and gave the stock a “hold” rating in a research report on Thursday, April 24th. TD Cowen upped their price target on Lam Research from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Wall Street Zen raised Lam Research from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Citigroup boosted their price objective on Lam Research from $108.00 to $113.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company set a $98.00 target price on Lam Research and gave the company an “equal weight” rating in a research report on Thursday, July 31st. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $107.09.

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.