Mackay Shields reduced its position in Lam Research Co. (NASDAQ:LRCX) by 26.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,360,000 shares of the company’s stock after selling 7,301,000 shares during the period. Lam Research makes up about 1.6% of Mackay Shields’ portfolio, making the stock its 22nd largest position. Mackay Shields’ holdings in Lam Research were worth $28,591,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Trinity Street Asset Management purchased a new stake in shares of Lam Research during the fourth quarter worth about $49,131,000. CIBC World Markets purchased a new stake in shares of Lam Research during the fourth quarter worth about $1,042,000. ING Groep purchased a new stake in shares of Lam Research during the third quarter worth about $475,000. Capstone Asset Management Company increased its stake in shares of Lam Research by 51.6% in the fourth quarter. Capstone Asset Management Company now owns 19,411 shares of the company’s stock worth $1,542,000 after buying an additional 6,608 shares during the last quarter. Finally, Chevy Chase Trust Holdings increased its stake in shares of Lam Research by 2.9% in the fourth quarter. Chevy Chase Trust Holdings now owns 130,564 shares of the company’s stock worth $10,370,000 after buying an additional 3,621 shares during the last quarter.

Shares of Lam Research Co. (NASDAQ:LRCX) opened at 71.79 on Friday. The company has a 50-day moving average price of $74.39 and a 200-day moving average price of $73.41. The stock has a market cap of $11.38 billion and a price-to-earnings ratio of 14.86. Lam Research Co. has a 52 week low of $61.20 and a 52 week high of $84.49.

Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 27th. The company reported $1.57 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.14. The business earned $1.43 billion during the quarter, compared to analysts’ expectations of $1.41 billion. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.19 earnings per share. Equities analysts anticipate that Lam Research Co. will post $5.95 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 6th. Investors of record on Wednesday, December 9th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, December 7th. This represents a $1.20 dividend on an annualized basis and a yield of 1.67%.

Several research firms recently weighed in on LRCX. Deutsche Bank restated a “buy” rating and issued a $85.00 price objective on shares of Lam Research in a research report on Monday, October 12th. Zacks Investment Research upgraded shares of Lam Research from a “sell” rating to a “hold” rating in a research report on Friday, October 16th. RBC Capital cut shares of Lam Research from a “sector perform” rating to an “underperform” rating and decreased their price objective for the stock from $76.00 to $52.00 in a research report on Monday, October 5th. Citigroup Inc. cut shares of Lam Research to a “buy” rating and decreased their price objective for the stock from $97.00 to $91.00 in a research report on Friday, October 23rd. Finally, Pacific Crest decreased their price objective on shares of Lam Research from $98.00 to $91.00 in a research report on Thursday, October 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Lam Research currently has a consensus rating of “Buy” and an average target price of $89.12.

Lam Research Corporation (NASDAQ:LRCX) is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company’s products are used primarily in front-end wafer processing, which involves the steps that create the active components of a device and their wiring. It also addresses processes for back-end wafer-level packaging (WLP). In addition, its products are offered for related markets that rely on semiconductor processes and require production-proven manufacturing capability, such as micro-electromechanical systems (MEMS). Its thin film deposition systems form a device’s sub-microscopic layers of conducting (metal) or insulating (dielectric) materials. It is a provider of plasma etch, a process step that selectively removes materials from the wafer to create the features and patterns of a device. Its wet spin clean and plasma-based bevel clean products remove particles, residues and film from the wafer surface before or after adjacent processes.

12 Month Chart for NASDAQ:LRCX

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