LA Financiere DE L Echiquier bought a new stake in shares of Lam Research Co. (NASDAQ:LRCX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,160 shares of the semiconductor company’s stock, valued at approximately $268,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Lam Research by 2.2% in the second quarter. BlackRock Inc. now owns 11,392,897 shares of the semiconductor company’s stock valued at $2,140,039,000 after acquiring an additional 248,314 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Lam Research by 2.1% in the second quarter. Janus Henderson Group PLC now owns 5,432,134 shares of the semiconductor company’s stock valued at $1,020,373,000 after acquiring an additional 112,508 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Lam Research by 655.7% in the second quarter. Nuveen Asset Management LLC now owns 2,502,249 shares of the semiconductor company’s stock valued at $470,022,000 after acquiring an additional 2,171,131 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Lam Research by 1.9% in the second quarter. Northern Trust Corp now owns 2,067,883 shares of the semiconductor company’s stock valued at $388,431,000 after acquiring an additional 38,448 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Lam Research by 20.5% in the second quarter. AQR Capital Management LLC now owns 1,571,906 shares of the semiconductor company’s stock valued at $295,267,000 after acquiring an additional 267,189 shares in the last quarter. 88.68% of the stock is owned by hedge funds and other institutional investors.
In other Lam Research news, EVP Richard A. Gottscho sold 3,741 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $219.00, for a total value of $819,279.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Douglas R. Bettinger sold 18,693 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $279.03, for a total transaction of $5,215,907.79. The disclosure for this sale can be found here. Insiders sold 88,202 shares of company stock valued at $21,620,104 over the last quarter. 0.43% of the stock is currently owned by corporate insiders.
Lam Research stock traded down $1.42 during trading hours on Monday, reaching $271.26. The stock had a trading volume of 1,179,377 shares, compared to its average volume of 2,038,116. The company has a market cap of $40.32 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 1.36 and a beta of 1.67. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.59 and a quick ratio of 2.99. The business’s 50 day moving average price is $247.19 and its 200-day moving average price is $210.36. Lam Research Co. has a 52 week low of $122.64 and a 52 week high of $282.88.
Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $3.18 EPS for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.17. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.17 billion. Lam Research had a net margin of 22.38% and a return on equity of 43.11%. The firm’s revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.36 earnings per share. On average, sell-side analysts forecast that Lam Research Co. will post 15.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Tuesday, October 1st were issued a $1.15 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Lam Research’s previous quarterly dividend of $1.10. This represents a $4.60 dividend on an annualized basis and a yield of 1.70%. Lam Research’s payout ratio is currently 31.62%.
Several analysts recently weighed in on LRCX shares. Mizuho lifted their price objective on Lam Research from $194.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. They noted that the move was a valuation call. UBS Group lifted their price objective on Lam Research from $205.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Zacks Investment Research downgraded Lam Research from a “buy” rating to a “hold” rating and set a $273.00 price objective for the company. in a report on Monday, October 14th. Deutsche Bank lifted their price objective on Lam Research from $220.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Finally, Cowen lifted their price objective on Lam Research from $235.00 to $290.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Twelve research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $258.58.
Lam Research Company Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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