Gyroscope Capital Management Group LLC decreased its holdings in Lam Research Co. (NASDAQ:LRCX) by 19.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,958 shares of the semiconductor company’s stock after selling 8,277 shares during the quarter. Lam Research accounts for approximately 3.2% of Gyroscope Capital Management Group LLC’s holdings, making the stock its 7th biggest position. Gyroscope Capital Management Group LLC’s holdings in Lam Research were worth $8,007,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of LRCX. First Trust Advisors LP increased its position in shares of Lam Research by 7.4% during the 1st quarter. First Trust Advisors LP now owns 642,650 shares of the semiconductor company’s stock valued at $115,041,000 after purchasing an additional 44,142 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of Lam Research during the 1st quarter valued at about $140,000. The Manufacturers Life Insurance Company increased its position in shares of Lam Research by 5.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 146,917 shares of the semiconductor company’s stock valued at $26,300,000 after purchasing an additional 7,964 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Lam Research by 764.0% during the 1st quarter. Lazard Asset Management LLC now owns 55,414 shares of the semiconductor company’s stock valued at $9,919,000 after purchasing an additional 49,000 shares during the last quarter. Finally, Wealthfront Advisers LLC increased its position in shares of Lam Research by 45.1% during the 1st quarter. Wealthfront Advisers LLC now owns 4,324 shares of the semiconductor company’s stock valued at $774,000 after purchasing an additional 1,345 shares during the last quarter. 88.23% of the stock is owned by institutional investors and hedge funds.
In other Lam Research news, SVP Vahid Vahedi sold 12,007 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $220.00, for a total value of $2,641,540.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 3,987 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $210.00, for a total value of $837,270.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,997 shares of company stock valued at $14,854,855. 0.43% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:LRCX traded up $4.20 during mid-day trading on Friday, reaching $238.82. 702,468 shares of the company traded hands, compared to its average volume of 1,635,822. The company’s 50 day moving average price is $225.44 and its 200-day moving average price is $200.39. The firm has a market cap of $32.98 billion, a PE ratio of 16.41, a PEG ratio of 1.54 and a beta of 1.65. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.61 and a quick ratio of 2.96. Lam Research Co. has a 52 week low of $122.64 and a 52 week high of $244.98.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.40 by $0.22. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.37 billion. Lam Research had a return on equity of 43.72% and a net margin of 22.70%. The firm’s revenue was down 24.5% on a year-over-year basis. During the same period in the previous year, the company posted $5.31 EPS. On average, research analysts predict that Lam Research Co. will post 13.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Tuesday, October 1st will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Lam Research’s previous quarterly dividend of $1.10. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.93%. Lam Research’s payout ratio is 31.62%.
Several equities research analysts have recently commented on the stock. Wells Fargo & Co raised shares of Lam Research to a “market perform” rating and upped their price target for the company from $200.00 to $235.00 in a research report on Thursday, September 19th. Cfra set a $210.00 price target on shares of Lam Research and gave the company a “hold” rating in a research report on Saturday, August 31st. Citigroup upped their price target on shares of Lam Research from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Evercore ISI raised shares of Lam Research from an “in-line” rating to an “outperform” rating in a research report on Tuesday, September 3rd. Finally, KeyCorp upped their price target on shares of Lam Research from $236.00 to $252.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Twelve equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $227.41.
About Lam Research
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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