Global X Japan Co. Ltd. bought a new position in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 43,358 shares of the semiconductor company's stock, valued at approximately $3,152,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank increased its position in Lam Research by 944.0% in the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock valued at $21,291,000 after buying an additional 266,527 shares in the last quarter. ICICI Prudential Asset Management Co Ltd raised its position in shares of Lam Research by 1,401.1% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 70,475 shares of the semiconductor company's stock worth $5,090,000 after purchasing an additional 65,780 shares during the period. Cerity Partners LLC lifted its holdings in shares of Lam Research by 781.9% in the 4th quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock worth $23,920,000 after purchasing an additional 293,619 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Lam Research in the 4th quarter valued at $6,296,000. Finally, Pitcairn Co. bought a new stake in Lam Research during the 4th quarter valued at $1,013,000. 84.61% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. Argus raised shares of Lam Research to a "strong-buy" rating in a research report on Friday, April 25th. Deutsche Bank Aktiengesellschaft set a $70.00 target price on Lam Research and gave the company a "hold" rating in a report on Thursday, April 24th. UBS Group dropped their price target on Lam Research from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, April 14th. B. Riley restated a "buy" rating and issued a $115.00 price objective (up previously from $95.00) on shares of Lam Research in a research note on Wednesday. Finally, Barclays decreased their target price on Lam Research from $75.00 to $70.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lam Research has an average rating of "Moderate Buy" and a consensus target price of $92.78.
Check Out Our Latest Stock Analysis on LRCX
Lam Research Trading Down 2.5%
Shares of NASDAQ:LRCX traded down $2.31 during mid-day trading on Friday, reaching $89.93. 9,213,473 shares of the company were exchanged, compared to its average volume of 12,280,340. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $113.00. The firm's 50-day simple moving average is $79.16 and its 200 day simple moving average is $77.49. The firm has a market cap of $115.03 billion, a price-to-earnings ratio of 25.06, a P/E/G ratio of 1.30 and a beta of 1.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.45 and a quick ratio of 1.64.
Lam Research (NASDAQ:LRCX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.04. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. The firm's quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the business earned $7.79 EPS. Equities research analysts forecast that Lam Research Corporation will post 3.71 EPS for the current year.
Lam Research Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Wednesday, June 18th. Lam Research's payout ratio is 25.63%.
About Lam Research
(
Free Report)
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.
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