2 weeks Ago By Defense World Staff
Legal & General Group Plc decreased its holdings in shares of Lam Research Co. ( NASDAQ:LRCX – Free Report ) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission.
The institutional investor owned 1,217,382 shares of the semiconductor company’s stock after selling 20,688 shares during the quarter. Legal & General Group Plc owned about 0.93% of Lam Research worth $1,296,327,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the business. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Lam Research during the second quarter worth about $32,000.
RFP Financial Group LLC lifted its position in Lam Research by 52.2% during the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares in the last quarter.
Raleigh Capital Management Inc. boosted its holdings in Lam Research by 78.6% in the 4th quarter.
Raleigh Capital Management Inc. now owns 50 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 22 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Lam Research in the second quarter valued at approximately $40,000.
Finally, Country Trust Bank purchased a new stake in shares of Lam Research during the second quarter valued at approximately $43,000. 84.61% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets In other news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction that occurred 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 sale, the chief accounting officer now owns 4,914 shares of the company’s stock, valued at $5,219,945.64.
The transaction was disclosed in a filing with the SEC, which is accessible through this link . In related news, SVP Neil J. Fernandes sold 1,620 shares of the stock in a transaction dated Friday, July 12th.
The shares were sold at an average price of $1,056.99, for a total value of $1,712,323.80.
Following the completion of the transaction, the senior vice president now owns 5,237 shares in the company, valued at approximately $5,535,456.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link .
Also, CAO Christina Correia sold 647 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now owns 4,914 shares in the company, valued at $5,219,945.64.
The disclosure for this sale can be found here . 0.32% of the stock is owned by insiders.
Lam Research Price Performance Lam Research shares are set to split before the market opens on Thursday, October 3rd. The 10-1 split was announced on Tuesday, May 21st. The newly created shares will be payable to shareholders after the closing bell on Wednesday, October 2nd.
Lam Research ( NASDAQ:LRCX – Get Free Report ) last issued its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $8.14 EPS for the quarter, topping analysts’ consensus estimates of $7.
58 by $0.56. The firm had revenue of $3.
87 billion during the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a return on equity of 48.
71% and a net margin of 25.68%. The firm’s revenue was up 20.
7% on a year-over-year basis. During the same period in the prior year, the business earned $5.98 EPS.
As a group, sell-side analysts expect that Lam Research Co. will post 35.2 earnings per share for the current year.
Lam Research Increases Dividend The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a $2.30 dividend.
The ex-dividend date of this dividend is Tuesday, September 17th. This is an increase from Lam Research’s previous quarterly dividend of $2.00.
This represents a $9.20 annualized dividend and a yield of 1.09%.
Lam Research’s dividend payout ratio (DPR) is currently 33.84%. Analyst Upgrades and Downgrades Several research analysts have recently weighed in on LRCX shares.
Barclays upped their target price on shares of Lam Research from $865.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 5th.
TD Cowen upped their price objective on shares of Lam Research from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Thursday, August 1st.
StockNews.com lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Citigroup reduced their price target on Lam Research from $990.
00 to $893.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Raymond James raised their price objective on Lam Research from $950.
00 to $1,060.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company.
According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,012.84.
View Our Latest Report on Lam Research About Lam Research ( 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. Further Reading Five stocks we like better than Lam Research Trading Stocks: RSI and Why it’s Useful REITs on the Rise After Rate Cuts: Where to Invest Now Stock Analyst Ratings and Canadian Analyst Ratings Is Viking Therapeutics Ready For Another Surge? Top Stocks Investing in 5G Technology AI Boom and Rate Cuts Boost Utility Stocks: Best Growth Picks Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.
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