Massmutual Trust Co. FSB ADV Sells 35 Shares of Lam Research Co. (NASDAQ:LRCX)

Massmutual Trust Co. FSB ADV reduced its stake in shares of Lam Research Co. (NASDAQ:LRCXGet Rating) by 16.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177 shares of the semiconductor company’s stock after selling 35 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Lam Research were worth $75,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LRCX. IndexIQ Advisors LLC lifted its position in Lam Research by 2.3% during the first quarter. IndexIQ Advisors LLC now owns 2,405 shares of the semiconductor company’s stock worth $1,293,000 after buying an additional 55 shares in the last quarter. Waldron Private Wealth LLC boosted its position in shares of Lam Research by 6.7% during the 1st quarter. Waldron Private Wealth LLC now owns 624 shares of the semiconductor company’s stock worth $336,000 after acquiring an additional 39 shares in the last quarter. AlphaCrest Capital Management LLC lifted its holdings in shares of Lam Research by 47.3% in the 1st quarter. AlphaCrest Capital Management LLC now owns 3,272 shares of the semiconductor company’s stock valued at $1,759,000 after purchasing an additional 1,051 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Lam Research by 6.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,956 shares of the semiconductor company’s stock valued at $2,126,000 after acquiring an additional 224 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its stake in Lam Research by 7.5% during the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,118 shares of the semiconductor company’s stock valued at $2,214,000 after acquiring an additional 287 shares during the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LRCX has been the subject of several analyst reports. Piper Sandler reduced their price objective on Lam Research from $596.00 to $567.00 and set a “neutral” rating for the company in a research note on Thursday, May 26th. Barclays downgraded Lam Research from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $625.00 to $450.00 in a research note on Wednesday, August 3rd. UBS Group increased their target price on Lam Research from $510.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Morgan Stanley cut their target price on Lam Research from $550.00 to $543.00 and set an “overweight” rating for the company in a research note on Tuesday, September 6th. Finally, Cowen cut their target price on Lam Research from $800.00 to $620.00 in a research note on Thursday, July 28th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lam Research currently has a consensus rating of “Hold” and a consensus target price of $610.30.

Lam Research Stock Performance

Shares of LRCX opened at $409.22 on Tuesday. The stock’s fifty day simple moving average is $461.43 and its 200 day simple moving average is $474.78. The company has a current ratio of 2.69, a quick ratio of 1.82 and a debt-to-equity ratio of 0.80. Lam Research Co. has a twelve month low of $375.87 and a twelve month high of $731.85. The firm has a market capitalization of $56.06 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 0.93 and a beta of 1.36.

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

Lam Research Increases Dividend

The company also recently declared 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. This represents a $6.90 dividend on an annualized basis and a yield of 1.69%. This is an increase from Lam Research’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Tuesday, September 13th. Lam Research’s dividend payout ratio (DPR) is 21.07%.

Lam Research Company 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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