2 weeks Ago By ABMN Staff
Beaird Harris Wealth Management LLC cut its holdings in shares of Lam Research Co. ( NASDAQ:LRCX – Free Report ) by 28.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission.
The fund owned 109 shares of the semiconductor company’s stock after selling 44 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in Lam Research were worth $116,000 as of its most recent filing with the Securities & Exchange Commission. Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company.
Swedbank AB purchased a new stake in Lam Research during the 1st quarter worth about $192,668,000. Van ECK Associates Corp lifted its holdings in shares of Lam Research by 24.6% in the first quarter.
Van ECK Associates Corp now owns 968,115 shares of the semiconductor company’s stock worth $940,592,000 after buying an additional 191,230 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Lam Research by 1.
2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after acquiring an additional 144,914 shares during the period.
Price T Rowe Associates Inc. MD grew its stake in Lam Research by 5.1% during the first quarter.
Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after acquiring an additional 142,903 shares in the last quarter. Finally, Natixis increased its holdings in Lam Research by 1,267.
1% during the 1st quarter. Natixis now owns 142,967 shares of the semiconductor company’s stock worth $138,902,000 after acquiring an additional 132,509 shares during the period. Institutional investors own 84.
61% of the company’s stock. Analyst Upgrades and Downgrades Several research analysts have commented on the stock. StockNews.
com downgraded shares of Lam Research from a “buy” rating to a “hold” rating in a report on Friday, July 26th. TD Cowen boosted their target price on Lam Research from $1,000.00 to $1,050.
00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Mizuho lowered their price target on Lam Research from $1,050.00 to $950.
00 and set an “outperform” rating on the stock in a report on Friday, September 20th. UBS Group dropped their price target on Lam Research from $1,250.00 to $1,150.
00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Finally, Citigroup decreased their price objective on shares of Lam Research from $990.00 to $893.
00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.
com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,012.84. Lam Research Price Performance Shares of Lam Research stock opened at $827.
12 on Friday. The business has a 50 day moving average of $819.63 and a 200 day moving average of $921.
14. Lam Research Co. has a 52 week low of $574.
42 and a 52 week high of $1,130.00. The company has a market cap of $108.
14 billion, a PE ratio of 30.42, a P/E/G ratio of 1.51 and a beta of 1.
48. The company has a quick ratio of 2.00, a current ratio of 2.
97 and a debt-to-equity ratio of 0.52. Lam Research shares are scheduled to split on Thursday, October 3rd.
The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be issued to shareholders after the closing bell on Wednesday, October 2nd. Lam Research ( NASDAQ:LRCX – Get Free Report ) last announced its earnings results on Wednesday, July 31st.
The semiconductor company reported $8.14 EPS for the quarter, beating analysts’ consensus estimates of $7.58 by $0.
56. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.
82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.
71%. The company’s quarterly revenue was up 20.7% on a year-over-year basis.
During the same quarter in the previous year, the business posted $5.98 EPS. As a group, equities research analysts forecast that Lam Research Co.
will post 35.2 earnings per share for the current year. Lam Research Increases Dividend The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st.
Stockholders of record on Tuesday, September 17th will be paid a $2.30 dividend. This is a boost from Lam Research’s previous quarterly dividend of $2.
00. This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.
11%. The ex-dividend date of this dividend is Tuesday, September 17th. Lam Research’s dividend payout ratio is currently 33.
84%. Insider Activity In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,062.
26, for a total value of $687,282.22. Following the transaction, the chief accounting officer now owns 4,914 shares in the company, valued at $5,219,945.
64. The sale was disclosed in a legal filing with the SEC, which is available at this link . In other news, CAO Christina Correia sold 647 shares of the company’s stock in a transaction on Monday, July 1st.
The stock was sold at an average price of $1,062.26, for a total transaction of $687,282.22.
Following the transaction, the chief accounting officer now directly owns 4,914 shares of the company’s stock, valued at $5,219,945.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website .
Also, SVP Neil J. Fernandes sold 1,620 shares of Lam Research stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $1,056.
99, for a total value of $1,712,323.80. Following the completion of the sale, the senior vice president now owns 5,237 shares of the company’s stock, valued at $5,535,456.
63. The disclosure for this sale can be found here . Corporate insiders own 0.
32% of the company’s stock. Lam Research Company Profile ( Free Report ) Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.
Featured Articles Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter ..
