PKO Investment Management Joint Stock Co lowered its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 14.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,927 shares of the semiconductor company's stock after selling 14,073 shares during the quarter. PKO Investment Management Joint Stock Co's holdings in Lam Research were worth $6,247,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC lifted its stake in shares of Lam Research by 900.0% during the fourth quarter. Fairway Wealth LLC now owns 340 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 306 shares in the last quarter. Financial Perspectives Inc lifted its stake in shares of Lam Research by 908.8% during the fourth quarter. Financial Perspectives Inc now owns 343 shares of the semiconductor company's stock worth $25,000 after purchasing an additional 309 shares in the last quarter. West Paces Advisors Inc. acquired a new position in shares of Lam Research during the fourth quarter worth about $27,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Lam Research during the fourth quarter worth about $27,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of Lam Research during the fourth quarter worth about $27,000. Institutional investors and hedge funds own 84.61% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on LRCX shares. B. Riley reiterated a "buy" rating and issued a $115.00 price target (up previously from $95.00) on shares of Lam Research in a research note on Wednesday. TD Securities cut their price target on Lam Research from $110.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Bank of America cut their price target on Lam Research from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Susquehanna upgraded Lam Research from a "neutral" rating to a "positive" rating and boosted their price target for the stock from $75.00 to $125.00 in a research note on Thursday, February 20th. Finally, Wells Fargo & Company cut their price target on Lam Research from $85.00 to $75.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $92.78.
Check Out Our Latest Stock Report on LRCX
Lam Research Stock Performance
Shares of NASDAQ:LRCX traded down $0.42 during trading on Thursday, hitting $92.24. 9,373,055 shares of the company traded hands, compared to its average volume of 12,291,497. The stock has a market capitalization of $117.99 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.30 and a beta of 1.65. The business's fifty day moving average is $79.16 and its 200-day moving average is $77.49. Lam Research Corporation has a one year low of $56.32 and a one year high of $113.00. The company has a quick ratio of 1.64, a current ratio of 2.45 and a debt-to-equity ratio of 0.39.
Lam Research (NASDAQ:LRCX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.64 billion. Lam Research had a return on equity of 53.21% and a net margin of 27.18%. The business's revenue was up 24.4% compared to the same quarter last year. During the same period in the prior year, the company earned $7.79 earnings per share. As a group, equities analysts predict that Lam Research Corporation will post 3.71 earnings per share for the current fiscal year.
Lam Research Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders 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 1.00%. The ex-dividend date of this dividend is Wednesday, June 18th. Lam Research's dividend payout ratio (DPR) is presently 25.63%.
Lam Research Company Profile
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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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