Guardian Capital LP Sells 34,275 Shares of Lam Research Co. (NASDAQ:LRCX)

Guardian Capital LP lowered its stake in Lam Research Co. (NASDAQ:LRCXGet Rating) by 95.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,628 shares of the semiconductor company’s stock after selling 34,275 shares during the quarter. Guardian Capital LP’s holdings in Lam Research were worth $875,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Lam Research by 0.6% during the first quarter. Vanguard Group Inc. now owns 11,571,398 shares of the semiconductor company’s stock valued at $6,220,899,000 after acquiring an additional 66,400 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Lam Research by 1.7% during the first quarter. BlackRock Inc. now owns 11,285,008 shares of the semiconductor company’s stock valued at $6,066,932,000 after acquiring an additional 184,139 shares in the last quarter. State Street Corp raised its holdings in shares of Lam Research by 1.8% during the fourth quarter. State Street Corp now owns 5,958,050 shares of the semiconductor company’s stock valued at $4,293,537,000 after acquiring an additional 103,296 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Lam Research by 5.6% during the first quarter. Fisher Asset Management LLC now owns 1,902,522 shares of the semiconductor company’s stock valued at $1,022,815,000 after acquiring an additional 100,480 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Lam Research during the fourth quarter valued at approximately $1,005,096,000. Institutional investors own 80.09% of the company’s stock.

Lam Research Trading Down 0.8 %

Lam Research stock opened at $447.30 on Tuesday. 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 one year low of $375.87 and a one year high of $731.85. The stock has a market capitalization of $61.27 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 1.02 and a beta of 1.36. The business’s fifty day moving average is $459.29 and its 200 day moving average is $479.43.

Lam Research (NASDAQ:LRCXGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The semiconductor company reported $8.83 EPS for the quarter, beating the consensus estimate of $7.30 by $1.53. Lam Research had a return on equity of 75.71% and a net margin of 26.73%. The company had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the firm posted $8.09 earnings per share. Lam Research’s revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts predict that Lam Research Co. will post 37.31 EPS for the current year.

Lam Research Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th will be given a dividend of $1.725 per share. The ex-dividend date 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 1.54%. Lam Research’s dividend payout ratio (DPR) is 18.32%.

Analysts Set New Price Targets

A number of brokerages recently commented on LRCX. Cowen decreased their target price on Lam Research from $800.00 to $620.00 in a report on Thursday, July 28th. Bank of America decreased their price objective on Lam Research from $650.00 to $540.00 and set a “buy” rating for the company in a report on Wednesday, June 29th. The Goldman Sachs Group increased their price objective on Lam Research from $448.00 to $504.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. DA Davidson decreased their price objective on Lam Research from $575.00 to $550.00 in a report on Thursday, July 28th. Finally, Morgan Stanley decreased their price objective on Lam Research from $550.00 to $543.00 and set an “overweight” rating for the company in a report on Tuesday, September 6th. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research currently has a consensus rating of “Hold” and a consensus price target of $610.30.

About Lam Research

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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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