James Investment Research Inc. lowered its position in shares of Lam Research Co. (NASDAQ:LRCX) by 50.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,406 shares of the semiconductor company’s stock after selling 12,741 shares during the quarter. James Investment Research Inc.’s holdings in Lam Research were worth $1,882,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. NuWave Investment Management LLC purchased a new position in Lam Research during the second quarter valued at approximately $100,000. Clear Perspective Advisors LLC purchased a new position in Lam Research during the second quarter valued at approximately $108,000. Signet Financial Management LLC grew its position in Lam Research by 21,700.0% during the second quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock valued at $113,000 after purchasing an additional 651 shares in the last quarter. Ruggie Capital Group purchased a new position in Lam Research during the second quarter valued at approximately $134,000. Finally, Bollard Group LLC grew its position in Lam Research by 43.0% during the second quarter. Bollard Group LLC now owns 1,005 shares of the semiconductor company’s stock valued at $174,000 after purchasing an additional 302 shares in the last quarter. Institutional investors and hedge funds own 91.85% of the company’s stock.
LRCX stock opened at $151.51 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.66 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $23.51 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 0.88 and a beta of 1.30. Lam Research Co. has a 12 month low of $133.42 and a 12 month high of $234.88.
Lam Research (NASDAQ:LRCX) last posted its earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.22 by $0.14. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.31 billion. Lam Research had a net margin of 21.26% and a return on equity of 49.80%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.46 earnings per share. On average, equities research analysts predict that Lam Research Co. will post 14.37 EPS for the current fiscal year.
LRCX has been the topic of a number of research analyst reports. BidaskClub downgraded shares of Lam Research from a “sell” rating to a “strong sell” rating in a research report on Friday, August 31st. Zacks Investment Research downgraded shares of Lam Research from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. DA Davidson lowered their price objective on shares of Lam Research to $225.00 in a research report on Monday, October 15th. Deutsche Bank reaffirmed a “hold” rating and set a $170.00 price objective (down from $230.00) on shares of Lam Research in a research report on Monday, October 1st. Finally, Evercore ISI lowered their price objective on shares of Lam Research to $240.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 17th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Lam Research currently has an average rating of “Buy” and a consensus price target of $224.22.
Lam Research Profile
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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