Wolff Wiese Magana LLC Purchases 348 Shares of Lam Research Co. (NASDAQ:LRCX)

Wolff Wiese Magana LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCXGet Rating) by 64.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 891 shares of the semiconductor company’s stock after buying an additional 348 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Lam Research were worth $380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Rockefeller Capital Management L.P. grew its stake in Lam Research by 3.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 15,158 shares of the semiconductor company’s stock valued at $10,900,000 after purchasing an additional 528 shares during the last quarter. Blair William & Co. IL lifted its stake in Lam Research by 45.9% during the 4th quarter. Blair William & Co. IL now owns 5,419 shares of the semiconductor company’s stock worth $3,897,000 after acquiring an additional 1,706 shares in the last quarter. Pitcairn Co. raised its position in Lam Research by 1.2% in the 4th quarter. Pitcairn Co. now owns 1,873 shares of the semiconductor company’s stock valued at $1,347,000 after purchasing an additional 23 shares in the last quarter. ETF Managers Group LLC raised its position in Lam Research by 39.0% in the 4th quarter. ETF Managers Group LLC now owns 1,521 shares of the semiconductor company’s stock valued at $1,093,000 after purchasing an additional 427 shares in the last quarter. Finally, Jag Capital Management LLC grew its stake in Lam Research by 16.9% during the 4th quarter. Jag Capital Management LLC now owns 2,163 shares of the semiconductor company’s stock worth $1,556,000 after buying an additional 313 shares during the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

Lam Research Stock Down 2.6 %

Shares of NASDAQ:LRCX traded down $9.95 during midday trading on Friday, reaching $376.88. The company’s stock had a trading volume of 54,842 shares, compared to its average volume of 1,221,541. Lam Research Co. has a 12-month low of $375.87 and a 12-month high of $731.85. The firm has a 50 day moving average of $460.60 and a 200-day moving average of $472.24. The firm has a market capitalization of $51.63 billion, a P/E ratio of 11.81, a PEG ratio of 0.91 and a beta of 1.36. The company has a quick ratio of 1.82, a current ratio of 2.69 and a debt-to-equity ratio of 0.80.

Lam Research (NASDAQ:LRCXGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share for the quarter, topping the consensus estimate of $7.30 by $1.53. Lam Research had a net margin of 26.73% and a return on equity of 75.71%. The firm had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the business earned $8.09 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. On average, research analysts anticipate that Lam Research Co. will post 37.31 earnings per share for the current year.

Lam Research Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th will be given a dividend of $1.725 per share. This represents a $6.90 annualized dividend and a dividend yield of 1.83%. This is an increase from Lam Research’s previous quarterly dividend of $1.50. The ex-dividend date is Tuesday, September 13th. Lam Research’s dividend payout ratio (DPR) is 21.07%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LRCX. Cowen lowered their price objective on Lam Research from $800.00 to $620.00 in a research report on Thursday, July 28th. Piper Sandler cut their price objective on Lam Research from $596.00 to $567.00 and set a “neutral” rating on the stock in a research note on Thursday, May 26th. Barclays lowered Lam Research from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $625.00 to $450.00 in a report on Wednesday, August 3rd. Citigroup decreased their price objective on Lam Research from $720.00 to $700.00 in a report on Thursday, July 28th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Lam Research from $560.00 to $480.00 in a research note on Monday, July 18th. Ten equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $610.30.

Lam Research Company Profile

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Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

Further Reading

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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