Wealth & Pension Services Group Inc. reduced its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 50.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,323 shares of the semiconductor company’s stock after selling 1,331 shares during the quarter. Wealth & Pension Services Group Inc.’s holdings in Lam Research were worth $237,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. We Are One Seven LLC bought a new stake in Lam Research during the 4th quarter worth about $26,000. Berman Capital Advisors LLC acquired a new position in Lam Research during the 4th quarter valued at about $26,000. Global Retirement Partners LLC lifted its position in Lam Research by 119.4% during the 1st quarter. Global Retirement Partners LLC now owns 147 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 80 shares during the period. Duncker Streett & Co. Inc. lifted its position in Lam Research by 100.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 200 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 100 shares during the period. Finally, FTB Advisors Inc. lifted its position in Lam Research by 72.0% during the 4th quarter. FTB Advisors Inc. now owns 215 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 88.59% of the company’s stock.
A number of research analysts have issued reports on LRCX shares. Mizuho restated a “buy” rating and set a $180.00 target price on shares of Lam Research in a research report on Tuesday, April 16th. Needham & Company LLC reiterated a “buy” rating and issued a $180.00 price target on shares of Lam Research in a research report on Thursday, January 24th. Citigroup reiterated a “buy” rating and issued a $215.00 price target (up from $177.00) on shares of Lam Research in a research report on Friday, March 15th. B. Riley upgraded shares of Lam Research from a “neutral” rating to a “buy” rating and increased their price target for the company from $170.00 to $235.00 in a research report on Monday, April 22nd. Finally, Morgan Stanley downgraded shares of Lam Research from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 22nd. One equities 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 stock. The company has an average rating of “Hold” and an average target price of $224.78.
NASDAQ LRCX traded down $4.52 during trading hours on Thursday, reaching $182.66. 38,914 shares of the company’s stock were exchanged, compared to its average volume of 2,112,152. Lam Research Co. has a one year low of $122.64 and a one year high of $209.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.79 and a current ratio of 3.37. The stock has a market cap of $27.46 billion, a price-to-earnings ratio of 10.21, a PEG ratio of 1.09 and a beta of 1.57.
Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, April 24th. The semiconductor company reported $3.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Lam Research’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the prior year, the business earned $4.79 EPS. On average, analysts predict that Lam Research Co. will post 14.33 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Wednesday, June 12th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $4.40 annualized dividend and a dividend yield of 2.41%. Lam Research’s dividend payout ratio is currently 24.62%.
Lam Research declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 23rd that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the semiconductor company to purchase up to 23% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.
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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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