Wealthspire Advisors LLC decreased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 81.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 324 shares of the semiconductor company’s stock after selling 1,463 shares during the quarter. Wealthspire Advisors LLC’s holdings in Lam Research were worth $211,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in LRCX. Jennison Associates LLC boosted its holdings in Lam Research by 312.3% during the second quarter. Jennison Associates LLC now owns 199,940 shares of the semiconductor company’s stock worth $130,101,000 after purchasing an additional 151,441 shares during the last quarter. Scge Management L.P. acquired a new position in Lam Research during the first quarter worth $89,286,000. Mn Services Vermogensbeheer B.V. acquired a new position in Lam Research during the second quarter worth $57,494,000. Franklin Resources Inc. boosted its holdings in Lam Research by 9.2% during the first quarter. Franklin Resources Inc. now owns 1,232,418 shares of the semiconductor company’s stock worth $733,585,000 after purchasing an additional 104,137 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Lam Research by 1,672.9% during the first quarter. SG Americas Securities LLC now owns 96,322 shares of the semiconductor company’s stock worth $57,335,000 after purchasing an additional 102,446 shares during the last quarter. Institutional investors and hedge funds own 81.32% of the company’s stock.
Several analysts have issued reports on LRCX shares. UBS Group dropped their price target on shares of Lam Research from $780.00 to $715.00 and set a “buy” rating on the stock in a research report on Tuesday, September 21st. Susquehanna lowered shares of Lam Research from a “positive” rating to a “neutral” rating and dropped their price target for the stock from $750.00 to $690.00 in a research report on Tuesday, September 14th. Zacks Investment Research lowered shares of Lam Research from a “buy” rating to a “hold” rating and set a $653.00 price target on the stock. in a research report on Wednesday, June 23rd. BNP Paribas lowered shares of Lam Research from an “outperform” rating to a “neutral” rating and set a $640.00 price target on the stock. in a research report on Tuesday, September 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $790.00 price target on shares of Lam Research in a research report on Friday, September 10th. Nine equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $702.83.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 28th. The semiconductor company reported $8.09 EPS for the quarter, topping analysts’ consensus estimates of $7.53 by $0.56. Lam Research had a net margin of 26.72% and a return on equity of 70.92%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4 billion. During the same period last year, the firm earned $4.78 earnings per share. Sell-side analysts anticipate that Lam Research Co. will post 33.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 13th. Investors of record on Tuesday, September 28th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.10%. This is a positive change from Lam Research’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Monday, September 27th. Lam Research’s dividend payout ratio (DPR) is currently 22.03%.
In other Lam Research news, CEO Timothy Archer sold 4,464 shares of the stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $600.00, for a total transaction of $2,678,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott Gerald Meikle sold 500 shares of the stock in a transaction dated Wednesday, September 15th. The stock was sold at an average price of $603.79, for a total transaction of $301,895.00. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.
About Lam Research
Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.
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