Kwmg LLC grew its position in Lam Research Co. (NASDAQ:LRCX) by 2.1% in the third quarter, HoldingsChannel.com reports. The fund owned 15,669 shares of the semiconductor company’s stock after buying an additional 317 shares during the quarter. Lam Research comprises 0.9% of Kwmg LLC’s portfolio, making the stock its 26th biggest position. Kwmg LLC’s holdings in Lam Research were worth $3,621,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Hexavest Inc. bought a new position in shares of Lam Research in the second quarter valued at approximately $28,000. MUFG Americas Holdings Corp raised its stake in shares of Lam Research by 75.0% in the second quarter. MUFG Americas Holdings Corp now owns 175 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 75 shares during the last quarter. Next Capital Management LLC bought a new position in shares of Lam Research in the second quarter valued at approximately $35,000. Marquette Asset Management LLC bought a new position in shares of Lam Research in the third quarter valued at approximately $35,000. Finally, HM Payson & Co. bought a new position in Lam Research in the 2nd quarter worth approximately $36,000. Institutional investors own 88.53% of the company’s stock.
In other news, SVP Sarah A. O’dowd sold 22,140 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $233.77, for a total value of $5,175,667.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Seshasayee Varadarajan sold 20,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $240.00, for a total transaction of $4,800,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 67,997 shares of company stock valued at $15,654,855 in the last ninety days. Company insiders own 0.43% of the company’s stock.
Several research firms recently weighed in on LRCX. Zacks Investment Research cut shares of Lam Research from a “buy” rating to a “hold” rating and set a $273.00 price objective for the company. in a research report on Monday, October 14th. B. Riley boosted their price objective on shares of Lam Research from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday. Cfra set a $210.00 price objective on shares of Lam Research and gave the stock a “hold” rating in a research report on Saturday, August 31st. KeyCorp boosted their price objective on shares of Lam Research from $236.00 to $252.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Goldman Sachs Group cut shares of Lam Research from a “buy” rating to a “neutral” rating in a research report on Monday, July 22nd. Twelve research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $229.71.
LRCX traded down $3.01 during trading on Tuesday, reaching $235.45. 617,951 shares of the company’s stock were exchanged, compared to its average volume of 1,535,388. The company’s fifty day moving average price is $232.38 and its 200-day moving average price is $203.51. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.96 and a current ratio of 3.61. Lam Research Co. has a fifty-two week low of $122.64 and a fifty-two week high of $244.98. The firm has a market capitalization of $33.85 billion, a PE ratio of 16.18, a P/E/G ratio of 1.59 and a beta of 1.65.
Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, July 31st. The semiconductor company reported $3.62 EPS for the quarter, topping analysts’ consensus estimates of $3.40 by $0.22. Lam Research had a net margin of 22.70% and a return on equity of 43.72%. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the previous year, the business earned $5.31 EPS. The business’s quarterly revenue was down 24.5% compared to the same quarter last year. Research analysts forecast that Lam Research Co. will post 13.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 16th. Shareholders of record on Tuesday, October 1st were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Monday, September 30th. This is a positive change from Lam Research’s previous quarterly dividend of $1.10. Lam Research’s payout ratio is currently 31.62%.
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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