Calamos Advisors LLC lowered its holdings in Lam Research Co. (NASDAQ:LRCX) by 44.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,795 shares of the semiconductor company’s stock after selling 77,863 shares during the period. Calamos Advisors LLC owned about 0.07% of Lam Research worth $57,021,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Marshall Financial Group LLC bought a new stake in shares of Lam Research during the fourth quarter valued at approximately $1,507,000. Wedge Capital Management L L P NC bought a new stake in Lam Research during the fourth quarter worth approximately $70,134,000. Laffer Tengler Investments raised its holdings in Lam Research by 21.8% during the fourth quarter. Laffer Tengler Investments now owns 3,827 shares of the semiconductor company’s stock worth $1,807,000 after purchasing an additional 685 shares in the last quarter. Redpoint Investment Management Pty Ltd raised its holdings in Lam Research by 17.9% during the fourth quarter. Redpoint Investment Management Pty Ltd now owns 4,324 shares of the semiconductor company’s stock worth $2,042,000 after purchasing an additional 655 shares in the last quarter. Finally, Busey Wealth Management bought a new stake in Lam Research during the fourth quarter worth approximately $256,000. 84.03% of the stock is currently owned by hedge funds and other institutional investors.
In other Lam Research news, CEO Timothy Archer sold 4,464 shares of the business’s stock in a transaction on Monday, February 8th. The shares were sold at an average price of $515.00, for a total transaction of $2,298,960.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick J. Lord sold 4,166 shares of the business’s stock in a transaction on Monday, March 1st. The stock was sold at an average price of $576.56, for a total transaction of $2,401,948.96. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Tuesday, January 26th. The semiconductor company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.31. Lam Research had a net margin of 23.60% and a return on equity of 55.82%. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the previous year, the business earned $4.01 EPS. Lam Research’s quarterly revenue was up 33.8% compared to the same quarter last year. As a group, analysts forecast that Lam Research Co. will post 22.41 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 7th. Investors of record on Wednesday, March 17th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Tuesday, March 16th. Lam Research’s payout ratio is presently 32.60%.
LRCX has been the topic of several recent analyst reports. Credit Suisse Group boosted their target price on Lam Research from $450.00 to $650.00 and gave the stock an “outperform” rating in a report on Monday, January 25th. The Goldman Sachs Group reissued a “buy” rating and set a $616.00 target price (up previously from $557.00) on shares of Lam Research in a report on Monday, January 18th. Wells Fargo & Company boosted their target price on Lam Research from $475.00 to $525.00 and gave the stock an “equal weight” rating in a report on Thursday, January 28th. Citigroup lifted their price target on shares of Lam Research from $420.00 to $660.00 and gave the stock a “buy” rating in a research report on Monday, January 25th. Finally, Morgan Stanley lifted their price target on shares of Lam Research from $553.00 to $568.00 and gave the stock an “overweight” rating in a research report on Thursday, January 28th. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $517.71.
Lam Research Company 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 products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.
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