Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Lam Research Corporation (NASDAQ:LRCX - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,329 shares of the semiconductor company's stock after acquiring an additional 7,484 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Lam Research were worth $11,074,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Huntington National Bank grew its stake in shares of Lam Research by 944.0% in the 4th quarter. Huntington National Bank now owns 294,762 shares of the semiconductor company's stock worth $21,291,000 after acquiring an additional 266,527 shares in the last quarter. Cerity Partners LLC grew its position in Lam Research by 781.9% during the fourth quarter. Cerity Partners LLC now owns 331,170 shares of the semiconductor company's stock valued at $23,920,000 after buying an additional 293,619 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in Lam Research during the fourth quarter valued at about $6,296,000. Pitcairn Co. bought a new position in Lam Research during the fourth quarter valued at about $1,013,000. Finally, First Citizens Bank & Trust Co. grew its position in Lam Research by 47.8% during the first quarter. First Citizens Bank & Trust Co. now owns 121,902 shares of the semiconductor company's stock valued at $8,862,000 after buying an additional 39,414 shares during the period. Institutional investors own 84.61% of the company's stock.
Lam Research Price Performance
Shares of Lam Research stock traded down $0.17 on Friday, reaching $98.66. The stock had a trading volume of 5,028,931 shares, compared to its average volume of 12,346,776. Lam Research Corporation has a 1 year low of $56.32 and a 1 year high of $113.00. The company has a market cap of $126.20 billion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 1.39 and a beta of 1.68. The company has a current ratio of 2.45, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39. The business's 50 day moving average is $85.70 and its two-hundred day moving average is $78.95.
Lam Research (NASDAQ:LRCX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The semiconductor company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.04. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. Lam Research had a net margin of 27.18% and a return on equity of 53.21%. Lam Research's quarterly revenue was up 24.4% on a year-over-year basis. During the same period last year, the firm posted $7.79 earnings per share. As a group, research analysts anticipate that Lam Research Corporation will post 3.71 EPS for the current year.
Lam Research Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Wednesday, June 18th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Wednesday, June 18th. Lam Research's dividend payout ratio is currently 25.63%.
Wall Street Analyst Weigh In
Several research firms recently weighed in on LRCX. Bank of America reduced their price target on shares of Lam Research from $110.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Oppenheimer restated an "outperform" rating and set a $110.00 price target (up previously from $80.00) on shares of Lam Research in a research report on Tuesday, June 17th. TD Cowen reduced their price target on shares of Lam Research from $110.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Morgan Stanley increased their price target on shares of Lam Research from $82.00 to $87.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, Barclays reduced their price target on shares of 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 investment 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 a consensus rating of "Moderate Buy" and an average target price of $94.20.
View Our Latest Report on LRCX
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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