Savvy Advisors Inc. Sells 379 Shares of Lam Research Corporation (NASDAQ:LRCX)

Savvy Advisors Inc. decreased its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 10.1% in the first quarter, HoldingsChannel reports. The fund owned 3,392 shares of the semiconductor company’s stock after selling 379 shares during the quarter. Savvy Advisors Inc.’s holdings in Lam Research were worth $247,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in Lam Research by 1,032.4% during the 4th quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock worth $1,025,000 after buying an additional 12,936 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Lam Research by 198.6% during the fourth quarter. Renaissance Technologies LLC now owns 88,260 shares of the semiconductor company’s stock worth $6,375,000 after acquiring an additional 58,703 shares during the last quarter. Scotia Capital Inc. grew its stake in shares of Lam Research by 899.4% during the fourth quarter. Scotia Capital Inc. now owns 29,651 shares of the semiconductor company’s stock worth $2,142,000 after acquiring an additional 26,684 shares during the last quarter. LSV Asset Management increased its holdings in shares of Lam Research by 1,367.4% during the fourth quarter. LSV Asset Management now owns 27,880 shares of the semiconductor company’s stock valued at $2,014,000 after acquiring an additional 25,980 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of Lam Research by 490.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 225,187 shares of the semiconductor company’s stock valued at $16,265,000 after purchasing an additional 187,047 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Lam Research Trading Up 2.6%

Shares of NASDAQ:LRCX opened at $101.75 on Monday. The business’s 50 day moving average price is $95.53 and its 200-day moving average price is $83.04. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $102.59. The firm has a market capitalization 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 (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. The business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $4.99 billion. Lam Research had a net margin of 29.07% and a return on equity of 58.17%. The company’s revenue was up 33.6% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. On average, equities research analysts forecast that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.9%. Lam Research’s dividend payout ratio is presently 22.12%.

Analysts Set New Price Targets

Several research firms have recently commented on LRCX. Wells Fargo & Company set a $98.00 price objective on shares of Lam Research and gave the stock an “equal weight” rating in a research note on Thursday, July 31st. Mizuho lifted their price target on Lam Research from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. KeyCorp boosted their price target on Lam Research from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Needham & Company LLC increased their price objective on Lam Research from $110.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Finally, Evercore ISI raised their price objective on Lam Research from $95.00 to $99.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Lam Research 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.