Chartwell Investment Partners LLC lifted its holdings in Lam Research Co. (NASDAQ:LRCX) by 3.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 15,666 shares of the semiconductor company’s stock after buying an additional 495 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Lam Research were worth $5,067,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Lam Research by 1.2% during the first quarter. BlackRock Inc. now owns 12,655,695 shares of the semiconductor company’s stock valued at $3,037,366,000 after acquiring an additional 148,341 shares during the period. Geode Capital Management LLC increased its stake in shares of Lam Research by 2.9% in the first quarter. Geode Capital Management LLC now owns 2,572,143 shares of the semiconductor company’s stock valued at $616,431,000 after purchasing an additional 72,678 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Lam Research by 32.3% during the first quarter. Nuveen Asset Management LLC now owns 2,112,376 shares of the semiconductor company’s stock valued at $506,970,000 after buying an additional 516,115 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Lam Research by 1.2% during the first quarter. Legal & General Group Plc now owns 1,001,147 shares of the semiconductor company’s stock worth $240,559,000 after buying an additional 11,529 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Lam Research by 41.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 902,889 shares of the semiconductor company’s stock worth $216,693,000 after buying an additional 264,117 shares in the last quarter. 85.05% of the stock is owned by institutional investors and hedge funds.
LRCX opened at $377.16 on Friday. The firm has a market capitalization of $54.75 billion, a P/E ratio of 24.93, a PEG ratio of 1.72 and a beta of 1.35. The stock has a fifty day moving average of $327.42 and a 200-day moving average of $289.35. The company has a quick ratio of 3.67, a current ratio of 3.43 and a debt-to-equity ratio of 0.96. Lam Research Co. has a 12-month low of $181.38 and a 12-month high of $381.48.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported $4.78 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.58. Lam Research had a return on equity of 49.72% and a net margin of 22.42%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same period in the previous year, the firm earned $3.62 earnings per share. Lam Research’s quarterly revenue was up 18.2% on a year-over-year basis. On average, analysts expect that Lam Research Co. will post 18.13 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were issued a dividend of $1.15 per share. The ex-dividend date was Tuesday, June 16th. This represents a $4.60 annualized dividend and a dividend yield of 1.22%.
LRCX has been the subject of several recent analyst reports. UBS Group increased their price target on Lam Research from $385.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup raised their target price on shares of Lam Research from $313.00 to $389.00 and gave the company a “buy” rating in a research note on Thursday. They noted that the move was a valuation call. Bank of America reaffirmed a “buy” rating and issued a $325.00 price target on shares of Lam Research in a research note on Monday, April 20th. KeyCorp raised their price objective on shares of Lam Research from $348.00 to $421.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, BidaskClub upgraded Lam Research from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $370.35.
In other Lam Research news, EVP Patrick J. Lord sold 10,719 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $343.00, for a total value of $3,676,617.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin Jennings sold 12,059 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $335.55, for a total transaction of $4,046,397.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,466 shares of company stock valued at $11,250,054. Insiders own 0.43% of the company’s stock.
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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