Ritholtz Wealth Management cut its stake in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,404 shares of the semiconductor company’s stock after selling 3,506 shares during the quarter. Ritholtz Wealth Management’s holdings in Lam Research were worth $13,602,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp increased its stake in shares of Lam Research by 2.6% in the second quarter. State Street Corp now owns 60,704,130 shares of the semiconductor company’s stock valued at $26,320,468,000 after buying an additional 1,545,830 shares during the period. Bank of America Corp DE raised its position in shares of Lam Research by 5.5% during the second quarter. Bank of America Corp DE now owns 11,244,147 shares of the semiconductor company’s stock worth $4,872,426,000 after acquiring an additional 584,489 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Lam Research by 411.8% during the second quarter. Van ECK Associates Corp now owns 11,089,395 shares of the semiconductor company’s stock worth $4,805,368,000 after acquiring an additional 8,922,854 shares during the last quarter. Amundi lifted its stake in shares of Lam Research by 23.7% in the first quarter. Amundi now owns 10,147,479 shares of the semiconductor company’s stock worth $2,168,107,000 after acquiring an additional 1,942,862 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Lam Research by 2.0% in the first quarter. Janus Henderson Group PLC now owns 9,265,026 shares of the semiconductor company’s stock worth $1,975,244,000 after acquiring an additional 181,087 shares during the period. 84.61% of the stock is owned by institutional investors and hedge funds.
Lam Research Stock Performance
LRCX stock opened at $235.88 on Thursday. The firm has a market cap of $294.65 billion, a PE ratio of 35.15, a price-to-earnings-growth ratio of 0.82 and a beta of 1.97. The company has a current ratio of 2.48, a quick ratio of 1.86 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average price of $280.09 and a 200-day moving average price of $283.74. Lam Research Corporation has a 1-year low of $135.50 and a 1-year high of $438.50.
Lam Research (NASDAQ:LRCX – Get Free Report) last announced its earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.18 by $0.02. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The company had revenue of $8.22 billion for the quarter, compared to analyst estimates of $8.14 billion. During the same quarter in the prior year, the company earned $1.26 EPS. The firm’s revenue for the quarter was up 54.4% compared to the same quarter last year. As a group, equities research analysts expect that Lam Research Corporation will post 9.60 earnings per share for the current year.
Lam Research Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Shareholders of record on Wednesday, December 2nd will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.32 annualized dividend and a yield of 0.6%. Lam Research’s payout ratio is 19.67%.
Lam Research announced that its board has approved a share repurchase program on Thursday, November 5th that authorizes the company to repurchase $25 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9% of its shares through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.
Wall Street Analysts Forecast Growth
LRCX has been the topic of several analyst reports. Berenberg Bank set a $420.00 target price on Lam Research in a report on Wednesday, September 9th. Bank of America restated a “buy” rating and set a $345.00 price target on shares of Lam Research in a report on Thursday, October 22nd. Evercore set a $315.00 price target on shares of Lam Research in a report on Tuesday, October 20th. Needham & Company LLC dropped their price target on shares of Lam Research from $390.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, October 22nd. Finally, Fundamental Research set a $390.00 price objective on shares of Lam Research in a research note on Thursday, October 1st. Twenty-six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $357.57.
Get Our Latest Stock Analysis on LRCX
Top Lam Research Stories
Investors following LRCX have been watching these stories:
- Positive Sentiment: Lam’s shares rose alongside peers in a broad wafer-fabrication-equipment rally, suggesting a rebound in sector sentiment after the recent decline. Read More.
- Positive Sentiment: The board authorized up to $25 billion in share repurchases with no set end date and reaffirmed the $0.33 quarterly dividend. The buyback could support shareholder returns and demand for the stock, although it does not by itself resolve concerns about growth. Read More.
- Negative Sentiment: Despite the rebound, LRCX and other equipment stocks had recently suffered steep declines amid concerns about semiconductor spending. Supply constraints could also limit further margin improvement, while ETFs were net sellers on Nov. 6—evidence that sentiment and fund flows have been uneven. Read More. · Read More.
Insider Activity at Lam Research
In other Lam Research news, Director Bethany Mayer sold 9,557 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total transaction of $3,007,970.18. Following the transaction, the director directly owned 20,995 shares in the company, valued at approximately $6,607,966.30. This represents a 31.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ava Harter sold 5,000 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $302.46, for a total value of $1,512,300.00. Following the transaction, the insider owned 42,462 shares in the company, valued at $12,843,056.52. The trade was a 10.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 14,573 shares of company stock worth $4,523,606. Insiders own 0.31% of the company’s stock.
Lam Research Profile
Lam Research is a global supplier of equipment and services used to manufacture semiconductors. Its products help chipmakers create and process the microscopic structures that form integrated circuits. The company’s wafer fabrication equipment is used for processes including etch, thin-film deposition and wafer cleaning. Lam also provides services such as equipment maintenance, upgrades, spare parts and other support for chip manufacturing operations. Founded in 1980 and headquartered in Fremont, California, Lam Research serves semiconductor manufacturers around the world.
Read More
- Five stocks we like better than Lam Research
- Keeping AI Cool: AAON Rides the AI Heatwave to Record Growth
- AST SpaceMobile Has a New Rocket Plan, But Its Cash-Burn Problem Isn’t Going Away
- Powering Up the Moon: Redwire’s $40 Million NASA Award
- Can Constellation Energy’s Contracts Power a Stock Rebound?
Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.
