ARS Investment Partners LLC decreased its position in shares of Lam Research Co. (NASDAQ:LRCX – Get Rating) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,357 shares of the semiconductor company’s stock after selling 157 shares during the period. Lam Research comprises 4.1% of ARS Investment Partners LLC’s portfolio, making the stock its 5th biggest position. ARS Investment Partners LLC’s holdings in Lam Research were worth $44,844,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Morgan Stanley lifted its position in Lam Research by 40.5% in the 2nd quarter. Morgan Stanley now owns 951,434 shares of the semiconductor company’s stock valued at $619,097,000 after acquiring an additional 274,306 shares in the last quarter. Keudell Morrison Wealth Management increased its stake in shares of Lam Research by 8.8% during the 3rd quarter. Keudell Morrison Wealth Management now owns 1,850 shares of the semiconductor company’s stock worth $1,053,000 after purchasing an additional 150 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Lam Research by 0.3% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 15,410 shares of the semiconductor company’s stock valued at $8,771,000 after buying an additional 45 shares during the last quarter. Essex Financial Services Inc. grew its stake in Lam Research by 21.3% in the 3rd quarter. Essex Financial Services Inc. now owns 540 shares of the semiconductor company’s stock valued at $307,000 after buying an additional 95 shares during the last quarter. Finally, US Bancorp DE grew its stake in Lam Research by 5.5% in the 3rd quarter. US Bancorp DE now owns 48,336 shares of the semiconductor company’s stock valued at $27,511,000 after buying an additional 2,539 shares during the last quarter. 82.34% of the stock is owned by institutional investors and hedge funds.
In other news, Director Catherine P. Lego bought 1,736 shares of the business’s stock in a transaction that occurred on Tuesday, April 26th. The shares were purchased at an average cost of $460.35 per share, for a total transaction of $799,167.60. Following the completion of the purchase, the director now owns 49,991 shares of the company’s stock, valued at $23,013,356.85. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Richard A. Gottscho sold 537 shares of the stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $560.50, for a total transaction of $300,988.50. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.
Lam Research (NASDAQ:LRCX – Get Rating) last released its earnings results on Wednesday, April 20th. The semiconductor company reported $7.40 EPS for the quarter, missing analysts’ consensus estimates of $7.48 by ($0.08). Lam Research had a return on equity of 75.51% and a net margin of 27.13%. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the firm earned $7.49 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts expect that Lam Research Co. will post 31.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 6th. Investors of record on Wednesday, June 15th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Tuesday, June 14th. Lam Research’s payout ratio is 18.76%.
A number of brokerages have recently weighed in on LRCX. Deutsche Bank Aktiengesellschaft cut their price target on shares of Lam Research from $650.00 to $560.00 and set a “hold” rating for the company in a report on Wednesday, April 13th. Evercore ISI decreased their price target on shares of Lam Research from $855.00 to $800.00 and set an “outperform” rating for the company in a research report on Thursday, January 27th. Morgan Stanley decreased their price objective on shares of Lam Research from $730.00 to $625.00 and set an “overweight” rating for the company in a research report on Thursday, April 21st. Mizuho reduced their price target on shares of Lam Research from $725.00 to $675.00 and set a “buy” rating for the company in a report on Thursday, April 21st. Finally, Susquehanna dropped their price objective on shares of Lam Research from $655.00 to $640.00 and set a “neutral” rating on the stock in a research note on Thursday, January 27th. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lam Research currently has an average rating of “Hold” and an average target price of $670.90.
About Lam Research (Get Rating)
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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