Pathstone Family Office LLC trimmed its position in Lam Research Co. (NASDAQ:LRCX) by 5.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,887 shares of the semiconductor company’s stock after selling 103 shares during the quarter. Pathstone Family Office LLC’s holdings in Lam Research were worth $355,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC increased its stake in Lam Research by 119.4% during the first quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 80 shares during the last quarter. Zions Bancorporation N.A. bought a new stake in Lam Research during the first quarter worth approximately $28,000. Hexavest Inc. bought a new stake in Lam Research during the second quarter worth approximately $28,000. Strategy Asset Managers LLC bought a new stake in Lam Research during the first quarter worth approximately $33,000. Finally, MUFG Americas Holdings Corp increased its stake in Lam Research by 75.0% during the second quarter. MUFG Americas Holdings Corp now owns 175 shares of the semiconductor company’s stock worth $33,000 after acquiring an additional 75 shares during the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ LRCX traded up $0.29 during trading hours on Tuesday, reaching $235.23. The stock had a trading volume of 60,492 shares, compared to its average volume of 1,515,248. The company has a current ratio of 3.61, a quick ratio of 2.96 and a debt-to-equity ratio of 0.81. The firm has a market cap of $34.05 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 1.44 and a beta of 1.62. The business’s fifty day moving average price is $210.46 and its two-hundred day moving average price is $193.38. Lam Research Co. has a 52-week low of $122.64 and a 52-week high of $237.90.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.40 by $0.22. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.37 billion. Lam Research had a return on equity of 43.72% and a net margin of 22.70%. Lam Research’s quarterly revenue was down 24.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.31 earnings per share. Equities research analysts anticipate that Lam Research Co. will post 13.6 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.60 dividend on an annualized basis and a yield of 1.96%. This is a positive change from Lam Research’s previous quarterly dividend of $1.10. Lam Research’s dividend payout ratio is currently 30.24%.
LRCX has been the topic of several analyst reports. Wells Fargo & Co boosted their price objective on Lam Research from $195.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Evercore ISI raised Lam Research from an “in-line” rating to an “outperform” rating in a research note on Tuesday, September 3rd. Needham & Company LLC upped their target price on Lam Research from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday. BidaskClub raised Lam Research from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Credit Suisse Group reaffirmed a “positive” rating on shares of Lam Research in a research note on Monday, July 8th. They noted that the move was a valuation call. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $221.88.
In other Lam Research news, SVP Vahid Vahedi sold 12,007 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $220.00, for a total transaction of $2,641,540.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Sarah A. O’dowd sold 22,140 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $233.77, for a total value of $5,175,667.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,997 shares of company stock valued at $14,854,855. 0.44% of the stock is owned by company insiders.
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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