Brown Advisory Inc. grew its stake in Lam Research Co. (NASDAQ:LRCX) by 8.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,173 shares of the semiconductor company’s stock after acquiring an additional 1,389 shares during the quarter. Brown Advisory Inc.’s holdings in Lam Research were worth $2,605,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of LRCX. Valeo Financial Advisors LLC acquired a new position in Lam Research in the second quarter valued at $402,000. Signet Financial Management LLC increased its stake in Lam Research by 21,700.0% in 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 during the last quarter. Morgan Stanley increased its stake in Lam Research by 83.1% in the second quarter. Morgan Stanley now owns 1,530,120 shares of the semiconductor company’s stock valued at $264,481,000 after purchasing an additional 694,440 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Lam Research by 7.5% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 21,894 shares of the semiconductor company’s stock valued at $3,784,000 after purchasing an additional 1,528 shares during the last quarter. Finally, Baird Financial Group Inc. increased its stake in Lam Research by 50.5% in the second quarter. Baird Financial Group Inc. now owns 6,880 shares of the semiconductor company’s stock valued at $1,189,000 after purchasing an additional 2,308 shares during the last quarter. Institutional investors and hedge funds own 89.13% of the company’s stock.
Several equities analysts recently commented on the company. ValuEngine upgraded Lam Research from a “strong sell” rating to a “sell” rating in a research note on Wednesday, November 28th. B. Riley lowered Lam Research from a “buy” rating to a “neutral” rating and dropped their target price for the company from $225.00 to $160.00 in a research note on Monday, October 29th. Susquehanna Bancshares reiterated a “neutral” rating and issued a $165.00 target price (down from $225.00) on shares of Lam Research in a research note on Tuesday, October 23rd. UBS Group lowered Lam Research from a “positive” rating to a “neutral” rating in a research note on Tuesday, October 23rd. Finally, Mizuho reiterated a “hold” rating and issued a $165.00 target price on shares of Lam Research in a research note on Wednesday, October 17th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Lam Research currently has an average rating of “Buy” and a consensus price target of $224.22.
Shares of NASDAQ:LRCX opened at $138.03 on Friday. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 0.87 and a beta of 1.36. 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 12 month low of $133.42 and a 12 month high of $234.88.
Lam Research (NASDAQ:LRCX) last announced its quarterly 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 analyst estimates of $2.31 billion. Lam Research had a return on equity of 49.80% and a net margin of 21.26%. The firm’s revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.46 earnings per share. Research analysts predict that Lam Research Co. will post 14.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Shareholders of record on Wednesday, December 5th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $4.40 annualized dividend and a yield of 3.19%. Lam Research’s dividend payout ratio is presently 24.62%.
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Lam Research Company 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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