Personal CFO Solutions LLC trimmed its position in shares of Lam Research Co. (NASDAQ:LRCX – Free Report) by 18.7% in the second quarter, Holdings Channel reports. The fund owned 730 shares of the semiconductor company’s stock after selling 168 shares during the quarter. Personal CFO Solutions LLC’s holdings in Lam Research were worth $470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also made changes to their positions in LRCX. Steward Financial Group LLC bought a new position in Lam Research in the 2nd quarter worth approximately $32,000. First Manhattan CO. LLC. increased its holdings in shares of Lam Research by 117.2% during the 1st quarter. First Manhattan CO. LLC. now owns 63 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 34 shares during the period. Cornerstone Management Inc. raised its position in shares of Lam Research by 225.0% during the first quarter. Cornerstone Management Inc. now owns 65 shares of the semiconductor company’s stock valued at $34,000 after buying an additional 45 shares during the last quarter. Chilton Capital Management LLC bought a new stake in shares of Lam Research in the first quarter valued at about $36,000. Finally, Coppell Advisory Solutions Corp. bought a new position in Lam Research during the fourth quarter valued at about $39,000. 84.08% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
LRCX has been the subject of several research reports. Susquehanna raised their target price on Lam Research from $540.00 to $615.00 in a research report on Thursday, July 27th. Sanford C. Bernstein lifted their price objective on Lam Research from $500.00 to $550.00 in a report on Thursday, July 27th. Needham & Company LLC raised Lam Research from a “hold” rating to a “buy” rating and set a $800.00 target price for the company in a report on Friday, October 13th. Citigroup boosted their price target on Lam Research from $695.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Finally, JPMorgan Chase & Co. cut their price objective on Lam Research from $720.00 to $700.00 and set an “overweight” rating for the company in a report on Thursday, October 19th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $660.00.
Insider Activity at Lam Research
In other news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $627.75, for a total value of $553,675.50. Following the completion of the transaction, the director now owns 12,117 shares of the company’s stock, valued at approximately $7,606,446.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Patrick J. Lord sold 2,832 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $700.00, for a total transaction of $1,982,400.00. Following the completion of the sale, the executive vice president now owns 9,892 shares of the company’s stock, valued at $6,924,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $627.75, for a total transaction of $553,675.50. Following the completion of the sale, the director now directly owns 12,117 shares in the company, valued at $7,606,446.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,404 shares of company stock worth $5,057,582. 0.32% of the stock is currently owned by company insiders.
Lam Research Trading Down 0.0 %
LRCX opened at $700.34 on Monday. Lam Research Co. has a fifty-two week low of $397.06 and a fifty-two week high of $726.53. The company has a market cap of $92.30 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 4.84 and a beta of 1.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.06 and a quick ratio of 1.94. The firm has a 50 day simple moving average of $633.31 and a 200 day simple moving average of $633.62.
Lam Research (NASDAQ:LRCX – Get Free Report) last announced its quarterly earnings data on Wednesday, October 18th. The semiconductor company reported $6.85 EPS for the quarter, topping analysts’ consensus estimates of $6.15 by $0.70. Lam Research had a return on equity of 50.02% and a net margin of 25.08%. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the previous year, the firm earned $10.42 earnings per share. The firm’s quarterly revenue was down 31.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Lam Research Co. will post 27.65 earnings per share for the current year.
Lam Research Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be paid a dividend of $2.00 per share. This is a positive change from Lam Research’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $8.00 annualized dividend and a yield of 1.14%. Lam Research’s dividend payout ratio (DPR) is presently 27.20%.
About Lam Research
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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