Migdal Insurance & Financial Holdings Ltd. trimmed its position in Lam Research Co. (NASDAQ:LRCX) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,712 shares of the semiconductor company’s stock after selling 51 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Lam Research were worth $306,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its position in Lam Research by 35,969.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,760,316 shares of the semiconductor company’s stock worth $116,000 after buying an additional 15,716,622 shares in the last quarter. BlackRock Inc. lifted its position in Lam Research by 1.6% during the fourth quarter. BlackRock Inc. now owns 11,429,062 shares of the semiconductor company’s stock worth $1,556,294,000 after buying an additional 178,331 shares in the last quarter. FMR LLC lifted its position in Lam Research by 88.0% during the fourth quarter. FMR LLC now owns 6,652,531 shares of the semiconductor company’s stock worth $905,875,000 after buying an additional 3,114,393 shares in the last quarter. LSV Asset Management lifted its position in Lam Research by 5.3% during the fourth quarter. LSV Asset Management now owns 3,045,010 shares of the semiconductor company’s stock worth $414,639,000 after buying an additional 153,891 shares in the last quarter. Finally, American International Group Inc. lifted its position in Lam Research by 1,921.2% during the fourth quarter. American International Group Inc. now owns 2,848,583 shares of the semiconductor company’s stock worth $387,892,000 after buying an additional 2,707,651 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.
A number of brokerages recently commented on LRCX. Zacks Investment Research downgraded Lam Research from a “hold” rating to a “sell” rating in a research report on Thursday, April 11th. Mizuho restated a “buy” rating and issued a $180.00 target price on shares of Lam Research in a research report on Tuesday, April 16th. Needham & Company LLC lifted their target price on Lam Research from $180.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. UBS Group lifted their target price on Lam Research from $170.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Finally, B. Riley upgraded Lam Research from a “neutral” rating to a “buy” rating and lifted their target price for the company from $170.00 to $235.00 in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $224.78.
LRCX traded down $1.32 on Wednesday, hitting $177.60. 2,393,851 shares of the company were exchanged, compared to its average volume of 2,355,222. Lam Research Co. has a twelve month low of $122.64 and a twelve month high of $209.50. The stock has a market capitalization of $26.63 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 1.06 and a beta of 1.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.37 and a quick ratio of 2.79.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.38 by $0.32. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Lam Research had a return on equity of 46.66% and a net margin of 25.64%. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.79 EPS. On average, research analysts anticipate that Lam Research Co. will post 14.33 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 12th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, June 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.48%. Lam Research’s dividend payout ratio is currently 24.62%.
In related news, SVP Kevin Jennings sold 7,016 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $177.35, for a total value of $1,244,287.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Abhijit Y. Talwalkar sold 3,988 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $195.00, for a total value of $777,660.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,125 shares of company stock valued at $6,772,290. Insiders own 0.44% of the company’s stock.
Lam Research Profile
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.
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