National Asset Management Inc. decreased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 7.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,482 shares of the semiconductor company’s stock after selling 208 shares during the period. National Asset Management Inc.’s holdings in Lam Research were worth $446,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Legal & General Group Plc lifted its position in shares of Lam Research by 0.8% during the third quarter. Legal & General Group Plc now owns 717,304 shares of the semiconductor company’s stock worth $108,815,000 after purchasing an additional 5,823 shares during the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Lam Research by 7.9% in the fourth quarter. IFM Investors Pty Ltd now owns 9,292 shares of the semiconductor company’s stock valued at $1,265,000 after acquiring an additional 684 shares in the last quarter. Duncker Streett & Co. Inc. raised its holdings in shares of Lam Research by 100.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 200 shares of the semiconductor company’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. We Are One Seven LLC bought a new stake in shares of Lam Research in the fourth quarter valued at about $26,000. Finally, Eqis Capital Management Inc. raised its holdings in shares of Lam Research by 29.2% in the fourth quarter. Eqis Capital Management Inc. now owns 16,999 shares of the semiconductor company’s stock valued at $2,315,000 after acquiring an additional 3,843 shares in the last quarter. Institutional investors and hedge funds own 88.59% of the company’s stock.
In other news, insider Richard A. Gottscho sold 7,248 shares of the business’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $209.26, for a total transaction of $1,516,716.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Kevin Jennings sold 1,553 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $177.67, for a total value of $275,921.51. The disclosure for this sale can be found here. Insiders sold 35,125 shares of company stock worth $6,772,290 in the last quarter. 0.44% of the stock is owned by insiders.
Several analysts recently weighed in on LRCX shares. Zacks Investment Research upgraded Lam Research from a “strong sell” rating to a “hold” rating in a report on Monday, January 28th. Royal Bank of Canada upgraded Lam Research from a “sector perform” rating to an “outperform” rating and set a $190.00 price objective for the company in a report on Tuesday, January 29th. Morgan Stanley downgraded Lam Research from an “overweight” rating to an “equal weight” rating in a report on Friday, February 22nd. Deutsche Bank lifted their price objective on Lam Research from $160.00 to $180.00 and gave the company a “hold” rating in a report on Monday, February 25th. Finally, Citigroup restated a “buy” rating and issued a $215.00 price objective (up from $177.00) on shares of Lam Research in a report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $224.78.
LRCX opened at $181.90 on Friday. Lam Research Co. has a 1 year low of $122.64 and a 1 year high of $209.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.79 and a current ratio of 3.37. The stock has a market capitalization of $27.27 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 1.09 and a beta of 1.57.
Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.32. Lam Research had a return on equity of 46.66% and a net margin of 25.64%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the firm earned $4.79 earnings per share. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. Sell-side analysts predict that Lam Research Co. will post 14.33 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Wednesday, June 12th will be paid a $1.10 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $4.40 annualized dividend and a yield of 2.42%. Lam Research’s dividend payout ratio (DPR) is presently 24.62%.
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Lam Research 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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