Mutual of America Capital Management LLC increased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 13.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,701 shares of the semiconductor company’s stock after purchasing an additional 4,719 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Lam Research were worth $5,871,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Valeo Financial Advisors LLC acquired a new stake in Lam Research during the 2nd quarter worth approximately $402,000. Signet Financial Management LLC increased its position in Lam Research by 21,700.0% during the 2nd quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock worth $113,000 after purchasing an additional 651 shares in the last quarter. Morgan Stanley increased its position in Lam Research by 83.1% during the 2nd quarter. Morgan Stanley now owns 1,530,120 shares of the semiconductor company’s stock worth $264,481,000 after purchasing an additional 694,440 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Lam Research by 7.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 21,894 shares of the semiconductor company’s stock worth $3,784,000 after purchasing an additional 1,528 shares in the last quarter. Finally, Baird Financial Group Inc. increased its position in Lam Research by 50.5% during the 2nd quarter. Baird Financial Group Inc. now owns 6,880 shares of the semiconductor company’s stock worth $1,189,000 after purchasing an additional 2,308 shares in the last quarter. 89.13% of the stock is owned by hedge funds and other institutional investors.
LRCX stock opened at $145.73 on Friday. Lam Research Co. has a twelve month low of $133.42 and a twelve month high of $234.88. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.66 and a quick ratio of 2.00. The company has a market cap of $23.23 billion, a PE ratio of 8.16, a P/E/G ratio of 0.87 and a beta of 1.36.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.14. Lam Research had a net margin of 21.26% and a return on equity of 49.80%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the company earned $3.46 earnings per share. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, analysts anticipate that Lam Research Co. will post 14.37 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Wednesday, December 5th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Tuesday, December 4th. Lam Research’s payout ratio is currently 24.62%.
LRCX has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Lam Research from a “hold” rating to a “sell” rating in a research report on Wednesday, August 15th. ValuEngine downgraded shares of Lam Research from a “hold” rating to a “sell” rating in a research report on Saturday, August 18th. Bank of America downgraded shares of Lam Research from a “buy” rating to a “neutral” rating and set a $285.00 price objective for the company. in a research report on Tuesday, August 28th. Goldman Sachs Group downgraded shares of Lam Research from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $224.00 to $180.00 in a research report on Wednesday, September 12th. Finally, Citigroup lowered their price objective on shares of Lam Research from $216.00 to $177.00 and set a “buy” rating for the company in a research report on Tuesday, September 25th. Three 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 issued a strong buy rating to the stock. Lam Research presently has a consensus rating of “Buy” and a consensus target price of $224.22.
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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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