Kornitzer Capital Management Inc. KS grew its stake in Lam Research Co. (NASDAQ:LRCX) by 21.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,934 shares of the semiconductor company’s stock after buying an additional 15,399 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.06% of Lam Research worth $20,091,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Hexavest Inc. bought a new stake in Lam Research during the second quarter worth $28,000. MUFG Americas Holdings Corp raised its position in Lam Research by 75.0% during the second quarter. MUFG Americas Holdings Corp now owns 175 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 75 shares in the last quarter. Next Capital Management LLC bought a new stake in Lam Research during the second quarter worth $35,000. Marquette Asset Management LLC bought a new stake in Lam Research during the third quarter worth $35,000. Finally, HM Payson & Co. bought a new stake in Lam Research during the second quarter worth $36,000. Institutional investors own 88.68% of the company’s stock.
Several equities analysts have recently weighed in on the stock. BidaskClub raised shares of Lam Research from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 14th. DA Davidson increased their price objective on shares of Lam Research to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Stifel Nicolaus increased their price objective on shares of Lam Research from $248.00 to $284.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Cfra set a $210.00 price objective on shares of Lam Research and gave the company a “hold” rating in a research report on Saturday, August 31st. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $300.00 price objective (up from $278.00) on shares of Lam Research in a research report on Thursday, October 24th. Twelve investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $258.58.
Shares of LRCX stock traded down $2.71 on Friday, hitting $271.40. The company’s stock had a trading volume of 69,429 shares, compared to its average volume of 1,847,409. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.99 and a current ratio of 3.59. The stock’s 50 day moving average is $246.52 and its 200-day moving average is $209.98. Lam Research Co. has a fifty-two week low of $122.64 and a fifty-two week high of $282.88. The company has a market capitalization of $40.32 billion, a PE ratio of 18.62, a PEG ratio of 1.36 and a beta of 1.67.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $3.18 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the company posted $3.36 earnings per share. Lam Research’s revenue was down 7.1% compared to the same quarter last year. On average, research analysts forecast that Lam Research Co. will post 15.04 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Tuesday, October 1st were paid a $1.15 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Lam Research’s previous quarterly dividend of $1.10. This represents a $4.60 annualized dividend and a dividend yield of 1.69%. Lam Research’s dividend payout ratio is 31.62%.
In other Lam Research news, SVP Vahid Vahedi sold 12,007 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $220.00, for a total transaction of $2,641,540.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard A. Gottscho sold 2,497 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $273.93, for a total transaction of $684,003.21. The disclosure for this sale can be found here. Insiders sold 88,202 shares of company stock worth $21,620,104 over the last 90 days. 0.43% of the stock is currently owned by corporate insiders.
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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