Robeco Institutional Asset Management B.V. trimmed its position in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 56.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,987 shares of the semiconductor company's stock after selling 41,468 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Lam Research were worth $25,054,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Panagora Asset Management Inc. boosted its position in Lam Research by 21.0% in the 3rd quarter. Panagora Asset Management Inc. now owns 6,548 shares of the semiconductor company's stock valued at $4,104,000 after buying an additional 1,135 shares during the period. Allworth Financial LP increased its holdings in Lam Research by 5.0% during the 3rd quarter. Allworth Financial LP now owns 1,639 shares of the semiconductor company's stock worth $1,027,000 after purchasing an additional 78 shares during the period. FDx Advisors Inc. raised its position in Lam Research by 14.6% in the 3rd quarter. FDx Advisors Inc. now owns 1,088 shares of the semiconductor company's stock valued at $682,000 after purchasing an additional 139 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Lam Research in the 3rd quarter valued at about $30,000. Finally, Cypress Capital Group grew its position in shares of Lam Research by 11.9% during the third quarter. Cypress Capital Group now owns 2,667 shares of the semiconductor company's stock worth $1,671,000 after buying an additional 283 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.
Lam Research Stock Performance
LRCX stock traded down $30.83 during trading on Friday, hitting $912.07. The company had a trading volume of 910,748 shares, compared to its average volume of 971,166. Lam Research Co. has a 1-year low of $559.41 and a 1-year high of $1,007.39. The firm has a 50-day moving average price of $933.49 and a 200-day moving average price of $839.78. The company has a quick ratio of 1.84, a current ratio of 2.82 and a debt-to-equity ratio of 0.56. The firm has a market cap of $119.24 billion, a PE ratio of 33.54, a price-to-earnings-growth ratio of 2.92 and a beta of 1.51.
Lam Research (NASDAQ:LRCX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The semiconductor company reported $7.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.26 by $0.53. Lam Research had a net margin of 25.35% and a return on equity of 45.96%. The firm had revenue of $3.79 billion during the quarter, compared to analysts' expectations of $3.72 billion. During the same period in the prior year, the company posted $6.99 earnings per share. The firm's revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts expect that Lam Research Co. will post 29.67 earnings per share for the current year.
Lam Research Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Tuesday, June 18th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Tuesday, June 18th. Lam Research's dividend payout ratio is presently 29.42%.
Insiders Place Their Bets
In other news, SVP Seshasayee Varadarajan sold 5,500 shares of the company's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $922.41, for a total transaction of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares of the company's stock, valued at approximately $20,380,648.95. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Lam Research news, CAO Christina Corrreia sold 647 shares of the company's stock in a transaction on Monday, April 1st. The stock was sold at an average price of $972.03, for a total value of $628,903.41. Following the sale, the chief accounting officer now owns 5,541 shares of the company's stock, valued at $5,386,018.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Seshasayee Varadarajan sold 5,500 shares of Lam Research stock in a transaction on Monday, March 18th. The stock was sold at an average price of $922.41, for a total value of $5,073,255.00. Following the transaction, the senior vice president now directly owns 22,095 shares of the company's stock, valued at approximately $20,380,648.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,489 shares of company stock worth $6,978,065. 0.32% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on LRCX shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Lam Research in a research note on Thursday, April 11th. They issued a "hold" rating and a $1,000.00 price target for the company. Jefferies Financial Group began coverage on Lam Research in a report on Monday, May 13th. They issued a "buy" rating and a $1,100.00 target price on the stock. Evercore ISI started coverage on Lam Research in a report on Tuesday, April 16th. They set an "outperform" rating and a $1,200.00 price target for the company. UBS Group increased their price objective on Lam Research from $1,130.00 to $1,150.00 and gave the company a "buy" rating in a report on Thursday, April 25th. Finally, Wells Fargo & Company boosted their target price on Lam Research from $930.00 to $980.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $957.95.
Check Out Our Latest Stock Report on Lam Research
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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