Arden Trust Co boosted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 27.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,106 shares of the semiconductor company’s stock after buying an additional 454 shares during the period. Arden Trust Co’s holdings in Lam Research were worth $699,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of LRCX. USA Financial Portformulas Corp raised its stake in shares of Lam Research by 146,300.0% in the third quarter. USA Financial Portformulas Corp now owns 2,928 shares of the semiconductor company’s stock valued at $971,000 after acquiring an additional 2,926 shares during the period. Empirical Finance LLC raised its position in Lam Research by 13.7% in the 2nd quarter. Empirical Finance LLC now owns 997 shares of the semiconductor company’s stock worth $322,000 after purchasing an additional 120 shares during the period. CNB Bank lifted its stake in Lam Research by 10.9% in the second quarter. CNB Bank now owns 428 shares of the semiconductor company’s stock worth $138,000 after purchasing an additional 42 shares during the last quarter. Balentine LLC purchased a new position in shares of Lam Research during the first quarter valued at approximately $135,000. Finally, TIAA FSB boosted its position in shares of Lam Research by 5.4% during the third quarter. TIAA FSB now owns 58,907 shares of the semiconductor company’s stock valued at $19,542,000 after buying an additional 3,016 shares during the period. Institutional investors own 85.27% of the company’s stock.
LRCX opened at $364.96 on Friday. The firm has a market capitalization of $52.95 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 1.35 and a beta of 1.23. The company has a debt-to-equity ratio of 0.96, a current ratio of 3.43 and a quick ratio of 2.83. The business’s 50-day moving average is $332.11 and its two-hundred day moving average is $310.52. Lam Research Co. has a 1 year low of $181.38 and a 1 year high of $387.70.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $4.78 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.58. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Lam Research had a net margin of 22.42% and a return on equity of 49.69%. The company’s revenue was up 18.2% compared to the same quarter last year. During the same period last year, the business earned $3.62 EPS. As a group, sell-side analysts expect that Lam Research Co. will post 20.68 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 14th. Shareholders of record on Wednesday, September 30th were issued a $1.30 dividend. This is a positive change from Lam Research’s previous quarterly dividend of $1.15. This represents a $5.20 annualized dividend and a yield of 1.42%. The ex-dividend date was Tuesday, September 29th. Lam Research’s payout ratio is currently 32.60%.
In other Lam Research news, EVP Richard A. Gottscho sold 17,655 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $370.82, for a total value of $6,546,827.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy Archer sold 15,540 shares of the company’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $370.00, for a total transaction of $5,749,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,111 shares of company stock worth $17,753,830. Insiders own 0.34% of the company’s stock.
A number of equities analysts recently issued reports on LRCX shares. DA Davidson boosted their price objective on Lam Research from $270.00 to $370.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Lam Research from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Royal Bank of Canada raised their price target on shares of Lam Research from $300.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. Needham & Company LLC boosted their price objective on shares of Lam Research from $325.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, BidaskClub upgraded shares of Lam Research from a “hold” rating to a “buy” rating in a research note on Thursday, October 8th. Three investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $376.38.
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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