United Capital Financial Advisers LLC increased its position in shares of Lam Research Co. (NASDAQ:LRCX – Get Rating) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,457 shares of the semiconductor company’s stock after buying an additional 176 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Lam Research were worth $8,292,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. OLD Second National Bank of Aurora acquired a new stake in Lam Research during the first quarter worth about $27,000. SJS Investment Consulting Inc. lifted its stake in Lam Research by 1,400.0% during the first quarter. SJS Investment Consulting Inc. now owns 60 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 56 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in Lam Research by 71.7% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 79 shares of the semiconductor company’s stock worth $34,000 after purchasing an additional 33 shares during the period. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Lam Research during the second quarter worth about $34,000. Finally, AdvisorNet Financial Inc lifted its stake in Lam Research by 224.0% during the second quarter. AdvisorNet Financial Inc now owns 81 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 56 shares during the period. 80.09% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Summit Insights upgraded shares of Lam Research from a “hold” rating to a “buy” rating in a research note on Thursday, October 20th. DA Davidson cut their price target on shares of Lam Research from $400.00 to $375.00 and set a “neutral” rating for the company in a research note on Thursday, October 20th. Citigroup cut their price target on shares of Lam Research from $700.00 to $560.00 and set a “buy” rating for the company in a research note on Wednesday, October 19th. Sanford C. Bernstein cut their target price on shares of Lam Research to $425.00 in a research note on Thursday, October 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of Lam Research from $640.00 to $515.00 and set an “overweight” rating for the company in a research note on Thursday, October 20th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $484.86.
Lam Research Price Performance
Lam Research (NASDAQ:LRCX – Get Rating) last released its earnings results on Wednesday, October 19th. The semiconductor company reported $10.42 EPS for the quarter, topping analysts’ consensus estimates of $9.54 by $0.88. Lam Research had a net margin of 26.96% and a return on equity of 74.74%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.91 billion. During the same quarter in the previous year, the business earned $8.36 EPS. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. As a group, analysts anticipate that Lam Research Co. will post 34.63 earnings per share for the current year.
Lam Research Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be issued a $1.725 dividend. This represents a $6.90 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, December 13th. Lam Research’s dividend payout ratio (DPR) is 19.79%.
Lam Research Company Profile
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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