1832 Asset Management L.P. Grows Position in Lam Research Co. (NASDAQ:LRCX)
1832 Asset Management L.P. raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 4,000.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,802 shares of the semiconductor company’s stock after acquiring an additional 49,563 shares during the quarter. 1832 Asset Management L.P.’s holdings in Lam Research were worth $12,998,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Atticus Wealth Management LLC bought a new stake in shares of Lam Research in the first quarter worth about $26,000. Ameritas Investment Company LLC increased its stake in Lam Research by 900.0% during the first quarter. Ameritas Investment Company LLC now owns 110 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Ancora Advisors LLC bought a new position in Lam Research in the fourth quarter worth approximately $27,000. FSA Wealth Management LLC bought a new position in Lam Research in the fourth quarter worth approximately $28,000. Finally, Altshuler Shaham Ltd raised its stake in Lam Research by 9,900.0% in the fourth quarter. Altshuler Shaham Ltd now owns 100 shares of the semiconductor company’s stock worth $29,000 after buying an additional 99 shares in the last quarter. 85.09% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on LRCX shares. Stifel Nicolaus downgraded Lam Research from a “buy” rating to a “hold” rating and set a $305.00 price target on the stock. in a research report on Monday. Royal Bank of Canada reduced their price target on Lam Research from $350.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, April 23rd. Nomura Securities raised Lam Research from a “neutral” rating to a “buy” rating and set a $265.00 price target on the stock in a research report on Thursday, April 2nd. Cowen reaffirmed an “outperform” rating and set a $340.00 price target (down from $380.00) on shares of Lam Research in a research report on Wednesday, March 18th. Finally, Susquehanna Bancshares reduced their price target on Lam Research from $368.00 to $330.00 in a research report on Thursday, April 23rd. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Lam Research presently has a consensus rating of “Buy” and an average price target of $312.89.
NASDAQ LRCX traded down $5.24 during trading hours on Friday, reaching $307.36. 283,850 shares of the company traded hands, compared to its average volume of 1,989,494. The company has a current ratio of 4.47, a quick ratio of 3.67 and a debt-to-equity ratio of 1.11. Lam Research Co. has a 12 month low of $178.59 and a 12 month high of $344.32. The company has a 50 day moving average of $279.67 and a two-hundred day moving average of $280.69. The stock has a market capitalization of $45.38 billion, a PE ratio of 22.22, a PEG ratio of 1.55 and a beta of 1.33.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, April 22nd. The semiconductor company reported $3.98 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $3.98. Lam Research had a net margin of 21.81% and a return on equity of 47.79%. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter last year, the firm posted $3.70 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Lam Research Co. will post 15.39 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Tuesday, June 16th. Lam Research’s dividend payout ratio is 31.62%.
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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