Chicago Equity Partners LLC lessened its stake in Lam Research Co. (NASDAQ:LRCX) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,725 shares of the semiconductor company’s stock after selling 855 shares during the period. Chicago Equity Partners LLC’s holdings in Lam Research were worth $4,447,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LRCX. NuWave Investment Management LLC bought a new stake in shares of Lam Research in the second quarter valued at about $100,000. Clear Perspective Advisors LLC bought a new position in Lam Research during the second quarter worth about $108,000. Harvest Fund Management Co. Ltd bought a new position in Lam Research during the first quarter worth about $116,000. Psagot Investment House Ltd. lifted its stake in Lam Research by 200.0% during the first quarter. Psagot Investment House Ltd. now owns 600 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 400 shares during the period. Finally, Field & Main Bank lifted its stake in Lam Research by 127.3% during the first quarter. Field & Main Bank now owns 625 shares of the semiconductor company’s stock worth $127,000 after purchasing an additional 350 shares during the period. Institutional investors and hedge funds own 88.97% of the company’s stock.
NASDAQ:LRCX opened at $172.47 on Friday. Lam Research Co. has a 1 year low of $156.83 and a 1 year high of $234.88. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.90 and a quick ratio of 2.31. The company has a market capitalization of $27.77 billion, a PE ratio of 9.65, a PEG ratio of 0.68 and a beta of 1.42.
Lam Research (NASDAQ:LRCX) last posted its earnings results on Thursday, July 26th. The semiconductor company reported $5.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.37. Lam Research had a net margin of 21.49% and a return on equity of 47.14%. The company had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the company posted $3.11 earnings per share. Lam Research’s quarterly revenue was up 33.3% compared to the same quarter last year. sell-side analysts anticipate that Lam Research Co. will post 15.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 12th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.55%. Lam Research’s dividend payout ratio (DPR) is currently 24.62%.
A number of research analysts have commented on LRCX shares. Citigroup upgraded shares of Lam Research from a “neutral” rating to a “buy” rating and cut their price target for the stock from $234.88 to $200.00 in a research note on Monday, May 14th. Cowen started coverage on shares of Lam Research in a research note on Tuesday, May 15th. They set an “outperform” rating and a $285.00 price target for the company. Zacks Investment Research cut shares of Lam Research from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. BidaskClub cut shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, June 8th. Finally, Bank of America cut their price target on shares of Lam Research from $305.00 to $285.00 and set a “buy” rating for the company in a research note on Monday, June 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Lam Research has an average rating of “Buy” and a consensus target price of $249.80.
Lam Research 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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