Twin Capital Management Inc. lifted its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 0.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 64,480 shares of the semiconductor company’s stock after purchasing an additional 490 shares during the quarter. Twin Capital Management Inc.’s holdings in Lam Research were worth $11,145,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new stake in Lam Research in the first quarter valued at $116,000. NuWave Investment Management LLC acquired a new stake in Lam Research in the second quarter valued at $100,000. Psagot Investment House Ltd. increased its holdings in Lam Research by 200.0% in the first quarter. Psagot Investment House Ltd. now owns 600 shares of the semiconductor company’s stock valued at $122,000 after purchasing an additional 400 shares during the period. Clear Perspective Advisors LLC acquired a new stake in Lam Research in the second quarter valued at $108,000. Finally, Signet Financial Management LLC increased its holdings in Lam Research by 21,700.0% in the second quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock valued at $113,000 after purchasing an additional 651 shares during the period. Institutional investors own 89.19% of the company’s stock.
A number of research firms recently weighed in on LRCX. Evercore ISI decreased their price objective on Lam Research to $240.00 and set an “outperform” rating for the company in a report on Tuesday, July 17th. BidaskClub downgraded Lam Research from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. ValuEngine downgraded Lam Research from a “hold” rating to a “sell” rating in a report on Saturday, August 18th. Bank of America decreased their price objective on Lam Research from $305.00 to $285.00 and set a “buy” rating for the company in a report on Monday, June 11th. Finally, UBS Group upgraded Lam Research from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Tuesday, June 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $249.80.
Shares of Lam Research stock opened at $171.54 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.90 and a quick ratio of 2.31. Lam Research Co. has a 1-year low of $156.83 and a 1-year high of $234.88. The stock has a market cap of $27.28 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $5.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.94 by $0.37. Lam Research had a return on equity of 47.14% and a net margin of 21.49%. The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business posted $3.11 EPS. The business’s revenue was up 33.3% compared to the same quarter last year. sell-side analysts forecast that Lam Research Co. will post 15.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 12th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, September 11th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.56%. Lam Research’s dividend payout ratio (DPR) is presently 24.62%.
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.
Further Reading: How are Outstanding Shares Different from Authorized Shares?
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