Exchange Traded Concepts LLC Sells 654 Shares of Lam Research Co. (NASDAQ:LRCX)

Exchange Traded Concepts LLC decreased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,140 shares of the semiconductor company’s stock after selling 654 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Lam Research were worth $4,009,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Perspectives Inc raised its holdings in shares of Lam Research by 908.8% in the 4th quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company’s stock worth $25,000 after buying an additional 309 shares in the last quarter. Fairway Wealth LLC boosted its holdings in Lam Research by 900.0% in the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company’s stock valued at $25,000 after acquiring an additional 306 shares during the last quarter. Midwest Capital Advisors LLC bought a new position in Lam Research in the fourth quarter valued at about $27,000. West Paces Advisors Inc. bought a new position in Lam Research in the fourth quarter valued at about $27,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Lam Research in the fourth quarter valued at about $27,000. Institutional investors own 84.61% of the company’s stock.

Lam Research Stock Up 4.3%

Shares of Lam Research stock opened at $93.41 on Tuesday. The business’s 50 day simple moving average is $77.79 and its 200 day simple moving average is $77.18. Lam Research Co. has a 52-week low of $56.32 and a 52-week high of $113.00. The firm has a market cap of $119.48 billion, a PE ratio of 28.37, a P/E/G ratio of 1.47 and a beta of 1.65. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.73 and a current ratio of 2.54.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the firm earned $7.79 EPS. Lam Research’s revenue for the quarter was up 24.4% compared to the same quarter last year. On average, analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $0.92 dividend on an annualized basis and a yield of 0.98%. Lam Research’s dividend payout ratio is 25.63%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley raised their price target on Lam Research from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Barclays cut their target price on Lam Research from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Evercore ISI increased their target price on Lam Research from $95.00 to $99.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Mizuho increased their target price on Lam Research from $87.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Lam Research in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.87.

About Lam Research

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.