ClariVest Asset Management LLC cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 272,613 shares of the semiconductor company’s stock after selling 20,787 shares during the quarter. ClariVest Asset Management LLC’s holdings in Lam Research were worth $47,122,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Lam Research during the 1st quarter worth approximately $116,000. NuWave Investment Management LLC acquired a new position in shares of Lam Research during the 2nd quarter worth approximately $100,000. Psagot Investment House Ltd. increased its holdings in shares of Lam Research by 200.0% during the 1st quarter. Psagot Investment House Ltd. now owns 600 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 400 shares during the last quarter. Field & Main Bank increased its holdings in shares of Lam Research by 127.3% during the 1st quarter. Field & Main Bank now owns 625 shares of the semiconductor company’s stock worth $127,000 after acquiring an additional 350 shares during the last quarter. Finally, Clear Perspective Advisors LLC bought a new stake in Lam Research in the 2nd quarter valued at $108,000. 88.97% of the stock is currently owned by institutional investors and hedge funds.
LRCX has been the subject of several recent research reports. BidaskClub upgraded Lam Research from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. KeyCorp reduced their price target on Lam Research from $283.00 to $261.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Zacks Investment Research downgraded Lam Research from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. Morgan Stanley reduced their price target on Lam Research from $219.00 to $208.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Finally, Citigroup reduced their price target on Lam Research from $245.00 to $239.00 and set a “buy” rating for the company in a research note on Friday, July 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. Lam Research has a consensus rating of “Buy” and an average price target of $249.80.
Shares of NASDAQ:LRCX traded up $0.94 during trading on Thursday, reaching $173.56. 20,459 shares of the company traded hands, compared to its average volume of 2,521,283. The company has a market cap of $27.77 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 0.68 and a beta of 1.42. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.31 and a current ratio of 2.90. Lam Research Co. has a 52 week low of $156.83 and a 52 week high of $234.88.
Lam Research (NASDAQ:LRCX) last released its earnings results on Thursday, July 26th. The semiconductor company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.37. The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.08 billion. Lam Research had a return on equity of 47.14% and a net margin of 21.49%. The company’s revenue was up 33.3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.11 EPS. research analysts predict that Lam Research Co. will post 15.51 EPS for the current fiscal year.
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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