First Trust Advisors LP lessened its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 20.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 651,213 shares of the semiconductor company’s stock after selling 166,872 shares during the quarter. First Trust Advisors LP owned approximately 0.45% of Lam Research worth $150,502,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rational Advisors LLC grew its stake in shares of Lam Research by 989.3% during the second quarter. Rational Advisors LLC now owns 305 shares of the semiconductor company’s stock worth $57,000 after buying an additional 277 shares during the last quarter. KBC Group NV grew its stake in shares of Lam Research by 9.8% in the second quarter. KBC Group NV now owns 70,637 shares of the semiconductor company’s stock worth $13,268,000 after purchasing an additional 6,277 shares during the last quarter. Glen Harbor Capital Management LLC grew its stake in shares of Lam Research by 85.5% in the second quarter. Glen Harbor Capital Management LLC now owns 20,896 shares of the semiconductor company’s stock worth $3,925,000 after purchasing an additional 9,632 shares during the last quarter. North Star Investment Management Corp. bought a new stake in shares of Lam Research in the third quarter worth $150,000. Finally, Bank of Stockton grew its stake in shares of Lam Research by 14.2% in the second quarter. Bank of Stockton now owns 1,855 shares of the semiconductor company’s stock worth $348,000 after purchasing an additional 230 shares during the last quarter. 88.68% of the stock is currently owned by hedge funds and other institutional investors.
In other Lam Research news, EVP Richard A. Gottscho sold 2,497 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $273.93, for a total value of $684,003.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Sarah A. O’dowd sold 22,140 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $233.77, for a total transaction of $5,175,667.80. The disclosure for this sale can be found here. Insiders sold a total of 88,202 shares of company stock worth $21,620,104 in the last 90 days. 0.43% of the stock is currently owned by company insiders.
Shares of NASDAQ LRCX traded down $1.43 during trading on Friday, hitting $272.68. 1,372,719 shares of the company traded hands, compared to its average volume of 2,042,072. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.99 and a current ratio of 3.59. Lam Research Co. has a fifty-two week low of $122.64 and a fifty-two week high of $282.88. The firm has a market capitalization of $40.32 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 1.36 and a beta of 1.67. The business’s fifty day moving average is $246.52 and its 200 day moving average is $209.98.
Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $3.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.17. Lam Research had a net margin of 22.38% and a return on equity of 43.11%. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the prior year, the business posted $3.36 EPS. The firm’s revenue was down 7.1% compared to the same quarter last year. On average, analysts predict that Lam Research Co. will post 15.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Tuesday, October 1st were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Monday, September 30th. This is a positive change from Lam Research’s previous quarterly dividend of $1.10. Lam Research’s dividend payout ratio is currently 31.62%.
Several brokerages recently weighed in on LRCX. Susquehanna Bancshares boosted their price objective on shares of Lam Research from $195.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Cowen boosted their price objective on shares of Lam Research from $235.00 to $290.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. KeyCorp reduced their price objective on shares of Lam Research from $261.00 to $252.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Evercore ISI raised shares of Lam Research from an “in-line” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Finally, Zacks Investment Research cut shares of Lam Research from a “buy” rating to a “hold” rating and set a $273.00 price objective on the stock. in a research note on Monday, October 14th. Twelve equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $258.58.
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 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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