Alcosta Capital Management Inc. Sells 162 Shares of Lam Research Co. (NASDAQ:LRCX)

Alcosta Capital Management Inc. cut its holdings in shares of Lam Research Co. (NASDAQ:LRCXGet Rating) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,993 shares of the semiconductor company’s stock after selling 162 shares during the quarter. Lam Research makes up approximately 3.1% of Alcosta Capital Management Inc.’s portfolio, making the stock its 15th largest holding. Alcosta Capital Management Inc.’s holdings in Lam Research were worth $4,297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vectors Research Management LLC boosted its holdings in Lam Research by 133.3% in the 4th quarter. Vectors Research Management LLC now owns 35 shares of the semiconductor company’s stock worth $25,000 after buying an additional 20 shares during the period. Stonebridge Capital Advisors LLC boosted its holdings in shares of Lam Research by 100.0% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company’s stock worth $27,000 after acquiring an additional 19 shares during the period. Delos Wealth Advisors LLC purchased a new position in shares of Lam Research in the fourth quarter valued at $30,000. Citizens National Bank Trust Department bought a new stake in shares of Lam Research during the 4th quarter valued at $32,000. Finally, Capital Advisory Group Advisory Services LLC purchased a new stake in Lam Research during the 1st quarter worth about $27,000. Institutional investors own 80.09% of the company’s stock.

Lam Research Trading Up 2.6 %

Shares of LRCX stock opened at $450.78 on Friday. The business has a 50-day moving average of $459.29 and a 200 day moving average of $480.45. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.69 and a quick ratio of 1.82. Lam Research Co. has a 1-year low of $375.87 and a 1-year high of $731.85. The stock has a market capitalization of $61.75 billion, a PE ratio of 13.76, a P/E/G ratio of 0.98 and a beta of 1.36.

Lam Research (NASDAQ:LRCXGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share for the quarter, beating analysts’ consensus estimates of $7.30 by $1.53. Lam Research had a return on equity of 75.71% and a net margin of 26.73%. The firm had revenue of $4.64 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the firm posted $8.09 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lam Research Co. will post 37.54 earnings per share for the current year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th will be paid a $1.725 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This is a boost from Lam Research’s previous quarterly dividend of $1.50. This represents a $6.90 annualized dividend and a dividend yield of 1.53%. Lam Research’s dividend payout ratio (DPR) is presently 18.32%.

Analyst Ratings Changes

Several brokerages have recently weighed in on LRCX. Cowen decreased their price target on Lam Research from $800.00 to $620.00 in a research report on Thursday, July 28th. Cowen reduced their price target on shares of Lam Research from $800.00 to $620.00 in a research report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft lowered their price objective on Lam Research from $560.00 to $480.00 in a research report on Monday, July 18th. The Goldman Sachs Group boosted their target price on Lam Research from $448.00 to $504.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, DA Davidson dropped their price target on Lam Research from $575.00 to $550.00 in a research report on Thursday, July 28th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Lam Research presently has an average rating of “Hold” and an average target price of $610.30.

Lam Research Profile

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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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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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