Thrive Wealth Management LLC acquired a new stake in Lam Research Co. (NASDAQ:LRCX – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 323 shares of the semiconductor company’s stock, valued at approximately $208,000.
Other institutional investors have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its position in shares of Lam Research by 117,180.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock valued at $13,795,180,000 after acquiring an additional 32,794,236 shares during the period. State Street Corp lifted its holdings in Lam Research by 1.7% in the 1st quarter. State Street Corp now owns 5,697,200 shares of the semiconductor company’s stock worth $3,029,550,000 after buying an additional 92,606 shares during the period. Ameriprise Financial Inc. lifted its holdings in Lam Research by 12.7% in the 1st quarter. Ameriprise Financial Inc. now owns 5,615,253 shares of the semiconductor company’s stock worth $2,976,863,000 after buying an additional 632,690 shares during the period. FMR LLC grew its position in shares of Lam Research by 0.7% in the 1st quarter. FMR LLC now owns 4,681,662 shares of the semiconductor company’s stock worth $2,481,843,000 after buying an additional 32,108 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Lam Research by 15.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,918,071 shares of the semiconductor company’s stock valued at $2,077,049,000 after buying an additional 528,586 shares during the period. Hedge funds and other institutional investors own 84.08% of the company’s stock.
Wall Street Analyst Weigh In
LRCX has been the topic of several recent analyst reports. Citigroup lifted their price target on shares of Lam Research from $695.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Stifel Nicolaus boosted their price target on shares of Lam Research from $725.00 to $750.00 and gave the company a “buy” rating in a research report on Monday, August 28th. Susquehanna raised their price objective on shares of Lam Research from $540.00 to $615.00 in a report on Thursday, July 27th. Wolfe Research started coverage on Lam Research in a report on Thursday, September 14th. They set an “outperform” rating and a $825.00 target price on the stock. Finally, StockNews.com assumed coverage on Lam Research in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $583.50.
Insider Buying and Selling at Lam Research
In other Lam Research news, SVP Vahid Vahedi sold 13,756 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $717.46, for a total transaction of $9,869,379.76. Following the completion of the sale, the senior vice president now directly owns 26,483 shares in the company, valued at approximately $19,000,493.18. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Vahid Vahedi sold 13,756 shares of Lam Research stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $717.46, for a total transaction of $9,869,379.76. Following the transaction, the senior vice president now directly owns 26,483 shares in the company, valued at $19,000,493.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Abhijit Y. Talwalkar sold 882 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $642.86, for a total value of $567,002.52. Following the completion of the sale, the director now owns 12,999 shares of the company’s stock, valued at approximately $8,356,537.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,159 shares of company stock valued at $12,926,580. 0.35% of the stock is owned by company insiders.
Lam Research Trading Up 2.0 %
Shares of NASDAQ:LRCX opened at $635.65 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.16 and a quick ratio of 2.01. Lam Research Co. has a 1 year low of $299.59 and a 1 year high of $726.53. The company has a market cap of $84.23 billion, a P/E ratio of 19.18, a PEG ratio of 3.75 and a beta of 1.49. The stock’s fifty day moving average price is $667.37 and its 200-day moving average price is $593.10.
Lam Research (NASDAQ:LRCX – Get Free Report) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $5.98 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $0.95. The company had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.13 billion. Lam Research had a net margin of 25.88% and a return on equity of 57.40%. The firm’s revenue for the quarter was down 30.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.83 earnings per share. Sell-side analysts expect that Lam Research Co. will post 26.82 earnings per share for the current year.
Lam Research Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Tuesday, September 12th. Lam Research’s dividend payout ratio (DPR) is presently 24.14%.
About Lam Research
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.
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