1 week Ago By ABMN Staff
SVB Wealth LLC lowered its stake in shares of Lam Research Co. ( NASDAQ:LRCX – Free Report ) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission.
The firm owned 1,810 shares of the semiconductor company’s stock after selling 113 shares during the quarter. SVB Wealth LLC’s holdings in Lam Research were worth $1,928,000 as of its most recent filing with the Securities and Exchange Commission. A number of other large investors have also modified their holdings of the stock.
Fortitude Family Office LLC increased its position in shares of Lam Research by 16.7% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the semiconductor company’s stock worth $67,000 after acquiring an additional 9 shares during the period.
Thomasville National Bank increased its position in shares of Lam Research by 1.5% during the second quarter. Thomasville National Bank now owns 812 shares of the semiconductor company’s stock worth $865,000 after acquiring an additional 12 shares during the period.
Ignite Planners LLC increased its position in shares of Lam Research by 2.8% during the second quarter. Ignite Planners LLC now owns 445 shares of the semiconductor company’s stock worth $484,000 after acquiring an additional 12 shares during the period.
U.S. Capital Wealth Advisors LLC increased its position in shares of Lam Research by 3.
7% during the second quarter. U.S.
Capital Wealth Advisors LLC now owns 335 shares of the semiconductor company’s stock worth $357,000 after acquiring an additional 12 shares during the period. Finally, RFP Financial Group LLC increased its position in shares of Lam Research by 52.2% during the second quarter.
RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.
Lam Research Trading Down 2.9 % NASDAQ LRCX opened at $733.83 on Monday.
The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.
97. The firm has a market cap of $95.31 billion, a PE ratio of 26.
99, a P/E/G ratio of 1.41 and a beta of 1.48.
Lam Research Co. has a one year low of $574.42 and a one year high of $1,130.
00. The firm’s fifty day moving average is $901.71 and its two-hundred day moving average is $938.
62. Lam Research ( NASDAQ:LRCX – Get Free Report ) last posted its quarterly earnings data 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 company had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.82 billion.
Lam Research had a net margin of 25.68% and a return on equity of 48.71%.
Lam Research’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the business posted $5.
98 earnings per share. Analysts expect that Lam Research Co. will post 35.
2 earnings per share for the current year. Lam Research declared that its Board of Directors has authorized a stock repurchase program on Tuesday, May 21st that authorizes the company to buyback $10.00 billion in outstanding shares.
This buyback authorization authorizes the semiconductor company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
Lam Research Increases Dividend The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be paid a dividend of $2.30 per share.
This represents a $9.20 dividend on an annualized basis and a dividend yield of 1.25%.
This is a positive change from Lam Research’s previous quarterly dividend of $2.00. The ex-dividend date is Tuesday, September 17th.
Lam Research’s payout ratio is 29.42%. Insider Transactions at Lam Research In other news, SVP Neil J.
Fernandes sold 4,409 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $1,055.76, for a total transaction of $4,654,845.
84. Following the transaction, the senior vice president now directly owns 6,857 shares in the company, valued at $7,239,346.32.
The sale was disclosed in a document filed with the SEC, which is available at this hyperlink . In other news, CEO Timothy Archer sold 9,650 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $1,070.
39, for a total transaction of $10,329,263.50. Following the transaction, the chief executive officer now directly owns 84,639 shares in the company, valued at $90,596,739.
21. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink . Also, SVP Neil J.
Fernandes sold 4,409 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $1,055.76, for a total transaction of $4,654,845.
84. Following the transaction, the senior vice president now owns 6,857 shares in the company, valued at $7,239,346.32.
The disclosure for this sale can be found here . Insiders have sold a total of 16,326 shares of company stock worth $17,383,715 over the last ninety days. 0.
32% of the stock is currently owned by company insiders. Wall Street Analysts Forecast Growth A number of analysts have recently weighed in on the company. Citigroup cut their price objective on Lam Research from $1,025.
00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft decreased their price target on Lam Research from $1,100.
00 to $950.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Wells Fargo & Company lowered their price objective on Lam Research from $1,100.
00 to $1,000.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Cantor Fitzgerald reissued a “neutral” rating and set a $1,200.
00 target price on shares of Lam Research in a research report on Thursday, August 1st. Finally, Jefferies Financial Group initiated coverage on Lam Research in a report on Monday, May 13th. They issued a “buy” rating and a $1,100.
00 price target for the company. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Lam Research currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,006.
10. Get Our Latest Stock 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.
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