Heritage Trust Co bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,613 shares of the semiconductor company’s stock, valued at approximately $387,000.
A number of other hedge funds have also recently modified their holdings of LRCX. Janney Montgomery Scott LLC increased its position in shares of Lam Research by 0.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 36,777 shares of the semiconductor company’s stock valued at $10,754,000 after acquiring an additional 172 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Lam Research during the fourth quarter valued at about $490,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Lam Research during the fourth quarter valued at about $434,000. SPC Financial Inc. acquired a new stake in shares of Lam Research during the fourth quarter valued at about $227,000. Finally, Segment Wealth Management LLC acquired a new stake in shares of Lam Research during the fourth quarter valued at about $326,000. 86.69% of the stock is currently owned by institutional investors.
NASDAQ:LRCX traded up $0.44 during mid-day trading on Friday, reaching $261.14. 1,734,831 shares of the stock were exchanged, compared to its average volume of 2,525,822. The business has a fifty day moving average price of $255.69 and a 200 day moving average price of $277.63. The firm has a market capitalization of $37.84 billion, a PE ratio of 18.77, a PEG ratio of 1.32 and a beta of 1.34. Lam Research Co. has a 1-year low of $171.04 and a 1-year high of $344.32. The company has a current ratio of 4.47, a quick ratio of 3.67 and a debt-to-equity ratio of 1.11.
Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, April 22nd. The semiconductor company reported $3.98 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.98. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.51 billion. Lam Research had a return on equity of 47.79% and a net margin of 21.81%. Lam Research’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.70 earnings per share. On average, sell-side analysts forecast that Lam Research Co. will post 15.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th will be paid a $1.15 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $4.60 dividend on an annualized basis and a yield of 1.76%. Lam Research’s dividend payout ratio is currently 31.62%.
In related news, CEO Timothy Archer sold 28,910 shares of Lam Research stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $270.00, for a total value of $7,805,700.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.43% of the company’s stock.
Several analysts have recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of Lam Research from $350.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, April 23rd. Susquehanna Bancshares cut their price objective on shares of Lam Research from $368.00 to $330.00 in a research report on Thursday, April 23rd. Exane BNP Paribas assumed coverage on shares of Lam Research in a research note on Thursday, April 9th. They issued an “outperform” rating and a $320.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Lam Research from $340.00 to $310.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Finally, Zacks Investment Research raised shares of Lam Research from a “sell” rating to a “hold” rating and set a $277.00 price objective on the stock in a research note on Friday, April 24th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $304.68.
About Lam Research
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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