Avanza Fonder AB Sells 14,890 Shares of Lam Research Co. (NASDAQ:LRCX)

Avanza Fonder AB trimmed its holdings in Lam Research Co. (NASDAQ:LRCX) by 12.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 108,734 shares of the semiconductor company’s stock after selling 14,890 shares during the period. Avanza Fonder AB’s holdings in Lam Research were worth $8,022,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. One Charles Private Wealth Services LLC lifted its holdings in shares of Lam Research by 843.4% in the fourth quarter. One Charles Private Wealth Services LLC now owns 4,000 shares of the semiconductor company’s stock worth $289,000 after buying an additional 3,576 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of Lam Research by 1,032.4% in the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock valued at $1,025,000 after acquiring an additional 12,936 shares during the last quarter. Silver Oak Securities Incorporated purchased a new position in Lam Research in the fourth quarter worth about $280,000. Strategic Financial Concepts LLC bought a new stake in Lam Research during the fourth quarter worth approximately $1,775,000. Finally, Golden State Wealth Management LLC purchased a new stake in Lam Research during the fourth quarter valued at approximately $137,000. Institutional investors own 84.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LRCX shares. Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the stock a “hold” rating in a report on Thursday, April 24th. Jefferies Financial Group lifted their price objective on shares of Lam Research from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Mizuho increased their target price on shares of Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Wells Fargo & Company dropped their price target on shares of Lam Research from $85.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Finally, Argus raised shares of Lam Research to a “strong-buy” rating in a research report on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.87.

Lam Research Price Performance

NASDAQ:LRCX opened at $88.30 on Tuesday. The stock has a market capitalization of $112.95 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 1.47 and a beta of 1.65. Lam Research Co. has a 52 week low of $56.32 and a 52 week high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51. The stock’s 50-day moving average price is $74.80 and its 200-day moving average price is $76.53.

Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate 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 return on equity of 51.86% and a net margin of 26.49%. Lam Research’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period last year, the company earned $7.79 earnings per share. As a group, equities analysts expect that Lam Research Co. will post 3.71 EPS 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. Shareholders of record on Wednesday, June 18th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Wednesday, June 18th. Lam Research’s dividend payout ratio is presently 25.63%.

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.