Los Angeles Capital Management LLC trimmed its position in shares of Lam Research Co. (NASDAQ:LRCX – Get Rating) by 0.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,734 shares of the semiconductor company’s stock after selling 352 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Lam Research were worth $20,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of LRCX. Norges Bank bought a new position in shares of Lam Research during the 4th quarter valued at $1,005,096,000. Coatue Management LLC lifted its holdings in shares of Lam Research by 110.9% during the 4th quarter. Coatue Management LLC now owns 860,025 shares of the semiconductor company’s stock valued at $618,487,000 after buying an additional 452,154 shares during the period. 1832 Asset Management L.P. increased its stake in shares of Lam Research by 229.7% in the 4th quarter. 1832 Asset Management L.P. now owns 414,564 shares of the semiconductor company’s stock worth $300,852,000 after purchasing an additional 288,808 shares in the last quarter. Theleme Partners LLP purchased a new stake in shares of Lam Research in the 4th quarter worth $154,617,000. Finally, AMF Tjanstepension AB increased its stake in shares of Lam Research by 228.2% in the 4th quarter. AMF Tjanstepension AB now owns 307,731 shares of the semiconductor company’s stock worth $221,365,000 after purchasing an additional 213,973 shares in the last quarter. 82.34% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently commented on LRCX. Barclays lowered Lam Research from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $625.00 to $450.00 in a research note on Wednesday. B. Riley lowered Lam Research from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $625.00 to $525.00 in a research note on Wednesday, June 15th. Bank of America reduced their price objective on Lam Research from $650.00 to $540.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft cut their price target on Lam Research from $560.00 to $480.00 in a research note on Monday, July 18th. Finally, Cowen cut their price target on Lam Research from $800.00 to $620.00 in a research note on Thursday, July 28th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $613.32.
Lam Research Trading Down 2.2 %
Lam Research (NASDAQ:LRCX – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share for the quarter, topping the consensus estimate of $7.30 by $1.53. The company had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.21 billion. Lam Research had a return on equity of 75.71% and a net margin of 26.73%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $8.09 earnings per share. Equities research analysts anticipate that Lam Research Co. will post 37.6 EPS for the current fiscal year.
Lam Research Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 6th. Investors of record on Wednesday, June 15th were issued a dividend of $1.50 per share. The ex-dividend date was Tuesday, June 14th. This represents a $6.00 annualized dividend and a yield of 1.15%. Lam Research’s payout ratio is presently 18.32%.
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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