FIL Ltd grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 27.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 727,583 shares of the semiconductor company’s stock after purchasing an additional 157,380 shares during the quarter. FIL Ltd owned approximately 0.47% of Lam Research worth $110,375,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of LRCX. NuWave Investment Management LLC bought a new position in Lam Research in the 2nd quarter worth approximately $100,000. Clear Perspective Advisors LLC bought a new position in Lam Research in the 2nd quarter worth approximately $108,000. Signet Financial Management LLC grew its holdings in Lam Research by 21,700.0% in the 2nd quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock worth $113,000 after buying an additional 651 shares in the last quarter. Ruggie Capital Group bought a new position in Lam Research in the 2nd quarter worth approximately $134,000. Finally, Bollard Group LLC grew its holdings in Lam Research by 43.0% in the 2nd quarter. Bollard Group LLC now owns 1,005 shares of the semiconductor company’s stock worth $174,000 after buying an additional 302 shares in the last quarter. 90.36% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on the company. Stifel Nicolaus decreased their price objective on Lam Research from $295.00 to $279.00 and set a “buy” rating for the company in a report on Friday, July 27th. JPMorgan Chase & Co. decreased their price objective on Lam Research from $275.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Citigroup decreased their price objective on Lam Research from $239.00 to $216.00 and set a “buy” rating for the company in a report on Monday, July 30th. Morgan Stanley decreased their price objective on Lam Research from $219.00 to $208.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Finally, KeyCorp decreased their price objective on Lam Research from $283.00 to $261.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $224.22.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Tuesday, October 16th. The semiconductor company reported $3.36 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.14. Lam Research had a return on equity of 49.80% and a net margin of 21.26%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the firm earned $3.46 EPS. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, equities research analysts expect that Lam Research Co. will post 14.37 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Wednesday, December 5th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, December 4th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.06%. Lam Research’s dividend payout ratio (DPR) is presently 24.62%.
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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