CCM Investment Advisers LLC decreased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,143 shares of the semiconductor company’s stock after selling 410 shares during the quarter. Lam Research comprises 1.8% of CCM Investment Advisers LLC’s holdings, making the stock its 25th largest holding. CCM Investment Advisers LLC’s holdings in Lam Research were worth $9,882,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of LRCX. BlackRock Inc. grew its stake in shares of Lam Research by 0.9% in the second quarter. BlackRock Inc. now owns 11,252,078 shares of the semiconductor company’s stock valued at $1,944,921,000 after buying an additional 102,790 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Lam Research by 4.4% in the second quarter. Janus Henderson Group PLC now owns 5,503,855 shares of the semiconductor company’s stock valued at $951,341,000 after buying an additional 231,609 shares in the last quarter. LSV Asset Management grew its stake in shares of Lam Research by 7.9% in the second quarter. LSV Asset Management now owns 2,641,374 shares of the semiconductor company’s stock valued at $456,561,000 after buying an additional 193,629 shares in the last quarter. FMR LLC grew its stake in shares of Lam Research by 92.5% in the second quarter. FMR LLC now owns 2,329,989 shares of the semiconductor company’s stock valued at $402,737,000 after buying an additional 1,119,488 shares in the last quarter. Finally, Swedbank grew its stake in shares of Lam Research by 8.3% in the third quarter. Swedbank now owns 1,944,630 shares of the semiconductor company’s stock valued at $295,000,000 after buying an additional 149,147 shares in the last quarter. 89.79% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on LRCX shares. DA Davidson dropped their price objective on Lam Research to $225.00 in a research note on Monday, October 15th. Citigroup dropped their price objective on Lam Research from $245.00 to $239.00 and set a “buy” rating for the company in a research note on Friday, July 13th. Stifel Nicolaus decreased their target price on Lam Research from $295.00 to $279.00 and set a “buy” rating for the company in a report on Friday, July 27th. B. Riley lifted their target price on Lam Research to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 17th. Finally, Zacks Investment Research upgraded Lam Research from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $224.22.
Shares of NASDAQ LRCX opened at $152.07 on Wednesday. The stock has a market cap of $23.51 billion, a price-to-earnings ratio of 8.51, a price-to-earnings-growth ratio of 0.88 and a beta of 1.30. The company has a quick ratio of 2.00, a current ratio of 2.66 and a debt-to-equity ratio of 0.34. Lam Research Co. has a 1 year low of $133.42 and a 1 year high of $234.88.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share (EPS) for the quarter, topping the Zacks’ 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 return on equity of 49.80% and a net margin of 21.26%. Lam Research’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.46 EPS. On average, equities research analysts expect that Lam Research Co. will post 14.37 EPS for the current fiscal year.
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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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