Hoylecohen LLC purchased a new stake in Lam Research Co. (NASDAQ:LRCX) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,658 shares of the semiconductor company’s stock, valued at approximately $297,000.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its stake in shares of Lam Research by 35,969.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 15,760,316 shares of the semiconductor company’s stock valued at $116,000 after purchasing an additional 15,716,622 shares during the period. BlackRock Inc. boosted its position in shares of Lam Research by 1.6% during the 4th quarter. BlackRock Inc. now owns 11,429,062 shares of the semiconductor company’s stock valued at $1,556,294,000 after acquiring an additional 178,331 shares during the last quarter. FMR LLC boosted its position in shares of Lam Research by 88.0% during the 4th quarter. FMR LLC now owns 6,652,531 shares of the semiconductor company’s stock valued at $905,875,000 after acquiring an additional 3,114,393 shares during the last quarter. LSV Asset Management boosted its position in shares of Lam Research by 1.3% during the 1st quarter. LSV Asset Management now owns 3,083,160 shares of the semiconductor company’s stock valued at $551,916,000 after acquiring an additional 38,150 shares during the last quarter. Finally, American International Group Inc. boosted its position in shares of Lam Research by 1,921.2% during the 4th quarter. American International Group Inc. now owns 2,848,583 shares of the semiconductor company’s stock valued at $387,892,000 after acquiring an additional 2,707,651 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on LRCX. Zacks Investment Research lowered Lam Research from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. KeyCorp lifted their target price on Lam Research from $223.00 to $236.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Needham & Company LLC lifted their target price on Lam Research from $180.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. UBS Group lifted their target price on Lam Research from $170.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Finally, Mizuho reiterated a “hold” rating on shares of Lam Research in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $224.78.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.38 by $0.32. Lam Research had a return on equity of 46.66% and a net margin of 25.64%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the firm posted $4.79 EPS. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. On average, sell-side analysts predict that Lam Research Co. will post 14.33 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 12th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, June 11th. Lam Research’s dividend payout ratio is presently 24.62%.
In other news, insider Richard A. Gottscho sold 7,248 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $209.26, for a total value of $1,516,716.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Abhijit Y. Talwalkar sold 3,988 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $203.00, for a total value of $809,564.00. The disclosure for this sale can be found here. Insiders sold a total of 17,379 shares of company stock worth $3,554,335 in the last three months. Company insiders own 0.44% of the company’s stock.
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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