Hsbc Holdings PLC Sells 1,461,180 Shares of Lam Research Corporation $LRCX

Key Points

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Hsbc Holdings PLC decreased its stake in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 32.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,033,230 shares of the semiconductor company's stock after selling 1,461,180 shares during the period. Hsbc Holdings PLC owned approximately 0.24% of Lam Research worth $219,693,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its position in Lam Research by 950.5% in the fourth quarter. Ameriprise Financial Inc. now owns 34,543,915 shares of the semiconductor company's stock valued at $2,495,128,000 after purchasing an additional 31,255,726 shares in the last quarter. Northern Trust Corp grew its position in Lam Research by 1,067.0% in the fourth quarter. Northern Trust Corp now owns 15,869,244 shares of the semiconductor company's stock valued at $1,146,235,000 after purchasing an additional 14,509,407 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Lam Research by 6,383.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,574,691 shares of the semiconductor company's stock valued at $980,500,000 after purchasing an additional 13,365,317 shares in the last quarter. Janus Henderson Group PLC bought a new position in Lam Research in the fourth quarter valued at $792,161,000. Finally, Vanguard Group Inc. grew its position in Lam Research by 6.9% in the first quarter. Vanguard Group Inc. now owns 129,152,102 shares of the semiconductor company's stock valued at $9,389,358,000 after purchasing an additional 8,364,375 shares in the last quarter. Institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Lam Research in a research report on Thursday, July 10th. They issued a "buy" rating and a $115.00 price objective for the company. Wells Fargo & Company set a $98.00 price objective on shares of Lam Research and gave the company an "equal weight" rating in a research report on Thursday, July 31st. Citigroup lifted their price objective on shares of Lam Research from $108.00 to $113.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Mizuho lifted their price objective on shares of Lam Research from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, Wall Street Zen raised shares of Lam Research from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Seven research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $107.09.

Lam Research Price Performance

Shares of NASDAQ:LRCX opened at $98.88 on Tuesday. The firm has a 50 day moving average of $97.71 and a 200-day moving average of $84.11. The stock has a market capitalization of $125.14 billion, a PE ratio of 23.77, a PEG ratio of 1.29 and a beta of 1.65. The company has a current ratio of 2.21, a quick ratio of 1.55 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 $108.02.

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

Lam Research 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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