LPL Financial LLC reduced its stake in Lam Research Co. (NASDAQ:LRCX) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,834 shares of the semiconductor company’s stock after selling 515 shares during the period. LPL Financial LLC’s holdings in Lam Research were worth $4,477,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its holdings in shares of Lam Research by 119.4% in the 1st quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock worth $26,000 after buying an additional 80 shares during the last quarter. Zions Bancorporation N.A. purchased a new position in Lam Research during the first quarter valued at $28,000. Hexavest Inc. bought a new position in Lam Research in the 2nd quarter worth about $28,000. Strategy Asset Managers LLC bought a new position in shares of Lam Research in the first quarter worth approximately $33,000. Finally, MUFG Americas Holdings Corp lifted its stake in Lam Research by 75.0% during the 2nd quarter. MUFG Americas Holdings Corp now owns 175 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 75 shares during the period. 88.65% of the stock is currently owned by institutional investors.
In related news, SVP Sarah A. O’dowd sold 5,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $229.08, for a total transaction of $1,145,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin Jennings sold 1,122 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $210.07, for a total transaction of $235,698.54. The disclosure for this sale can be found here. Insiders sold a total of 45,857 shares of company stock valued at $9,679,188 over the last three months. Company insiders own 0.44% of the company’s stock.
Lam Research stock traded up $1.12 during mid-day trading on Wednesday, reaching $233.06. 493,744 shares of the company’s stock were exchanged, compared to its average volume of 1,560,603. The company has a quick ratio of 2.96, a current ratio of 3.61 and a debt-to-equity ratio of 0.81. Lam Research Co. has a twelve month low of $122.64 and a twelve month high of $232.64. The company has a market cap of $33.29 billion, a P/E ratio of 16.02, a P/E/G ratio of 1.41 and a beta of 1.62. The company has a fifty day moving average of $208.10 and a 200-day moving average of $191.97.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.40 by $0.22. Lam Research had a return on equity of 43.72% and a net margin of 22.70%. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the prior year, the business earned $5.31 EPS. Lam Research’s revenue was down 24.5% on a year-over-year basis. Equities research analysts expect that Lam Research Co. will post 13.6 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Tuesday, October 1st will be given a dividend of $1.15 per share. The ex-dividend date is Monday, September 30th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.97%. This is a boost from Lam Research’s previous quarterly dividend of $1.10. Lam Research’s payout ratio is 30.24%.
LRCX has been the topic of a number of recent research reports. BidaskClub raised Lam Research from a “hold” rating to a “buy” rating in a report on Thursday, September 5th. ValuEngine lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Cfra set a $210.00 price target on Lam Research and gave the company a “hold” rating in a report on Saturday, August 31st. Credit Suisse Group reaffirmed a “positive” rating on shares of Lam Research in a research note on Monday, July 8th. They noted that the move was a valuation call. Finally, Evercore ISI raised Lam Research from an “in-line” rating to an “outperform” rating in a report on Tuesday, September 3rd. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Lam Research has a consensus rating of “Hold” and an average target price of $220.00.
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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