Gulf International Bank UK Ltd Has $5.35 Million Holdings in Lam Research Corporation (NASDAQ:LRCX)

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Lam Research Corporation by 27.3%, now owning approximately $5.35 million worth of shares.
• Lam Research reported earnings of $1.33 per share, surpassing analyst expectations of $1.21, with revenues reaching $5.17 billion for the quarter.
• The company recently declared a quarterly dividend of $0.23 per share, which reflects a 0.9% dividend yield and a payout ratio of 22.12%.

Gulf International Bank UK Ltd cut its holdings in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 27.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 73,560 shares of the semiconductor company's stock after selling 27,661 shares during the period. Gulf International Bank UK Ltd's holdings in Lam Research were worth $5,347,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new stake in shares of Lam Research during the 1st quarter valued at $26,000. West Paces Advisors Inc. bought a new position in shares of Lam Research in the 4th quarter valued at about $27,000. Mpwm Advisory Solutions LLC bought a new position in Lam Research during the fourth quarter worth about $27,000. Park Square Financial Group LLC bought a new position in Lam Research during the fourth quarter worth about $31,000. Finally, Putney Financial Group LLC bought a new stake in shares of Lam Research during the fourth quarter worth approximately $36,000. 84.61% of the stock is currently owned by institutional investors.

Lam Research Stock Performance

Shares of NASDAQ LRCX opened at $105.28 on Wednesday. The company has a market cap of $134.67 billion, a P/E ratio of 25.31, a P/E/G ratio of 1.32 and a beta of 1.65. The company has a quick ratio of 1.55, a current ratio of 2.21 and a debt-to-equity ratio of 0.38. Lam Research Corporation has a 12 month low of $56.32 and a 12 month high of $105.64. The business's 50 day moving average is $96.35 and its two-hundred day moving average is $83.35.

Lam Research (NASDAQ:LRCX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The semiconductor company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $4.99 billion. Lam Research had a return on equity of 58.17% and a net margin of 29.07%. The firm's revenue for the quarter was up 33.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 earnings per share. On average, equities analysts expect that Lam Research Corporation will post 3.71 EPS for the current year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 0.9%. Lam Research's payout ratio is 22.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $70.00 price target on shares of Lam Research and gave the company a "hold" rating in a research report on Thursday, April 24th. Evercore ISI boosted their price objective on shares of Lam Research from $95.00 to $99.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Argus boosted their price objective on shares of Lam Research from $105.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Stifel Nicolaus upped their price target on shares of Lam Research from $92.00 to $110.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Finally, TD Securities cut their price objective on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $107.09.

Lam Research Company Profile

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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