International Assets Investment Management LLC cut its stake in Lam Research Co. (NASDAQ:LRCX – Free Report) by 99.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 465 shares of the semiconductor company’s stock after selling 99,981 shares during the quarter. International Assets Investment Management LLC’s holdings in Lam Research were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. TKG Advisors LLC bought a new stake in Lam Research during the first quarter valued at approximately $2,960,000. Proficio Capital Partners LLC grew its position in Lam Research by 492,345.8% during the first quarter. Proficio Capital Partners LLC now owns 2,644,434 shares of the semiconductor company’s stock valued at $2,644,000 after buying an additional 2,643,897 shares during the period. Carderock Capital Management Inc. grew its position in Lam Research by 104.6% during the first quarter. Carderock Capital Management Inc. now owns 12,009 shares of the semiconductor company’s stock valued at $6,366,000 after buying an additional 6,140 shares during the period. CENTRAL TRUST Co grew its position in Lam Research by 6.9% during the first quarter. CENTRAL TRUST Co now owns 3,788 shares of the semiconductor company’s stock valued at $2,008,000 after buying an additional 245 shares during the period. Finally, Herold Advisors Inc. bought a new stake in Lam Research during the first quarter valued at approximately $668,000. 85.50% of the stock is currently owned by institutional investors.
Lam Research Trading Up 1.3 %
Shares of LRCX opened at $650.99 on Tuesday. Lam Research Co. has a twelve month low of $299.59 and a twelve month high of $651.01. The company has a market cap of $87.45 billion, a P/E ratio of 18.13, a P/E/G ratio of 7.57 and a beta of 1.46. The company has a current ratio of 3.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $585.53 and its 200-day simple moving average is $519.70.
Lam Research Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Wednesday, June 14th will be issued a $1.725 dividend. This represents a $6.90 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Tuesday, June 13th. Lam Research’s payout ratio is presently 19.21%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. Berenberg Bank upped their price target on shares of Lam Research from $530.00 to $555.00 and gave the stock a “buy” rating in a research report on Thursday, April 20th. JPMorgan Chase & Co. upped their price target on shares of Lam Research from $515.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, April 20th. Wells Fargo & Company upped their price target on shares of Lam Research from $470.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 20th. Jefferies Financial Group upped their price target on shares of Lam Research from $565.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, April 20th. Finally, Sanford C. Bernstein lowered shares of Lam Research from an “outperform” rating to a “market perform” rating in a research report on Monday, March 13th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $505.00.
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.
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