Oppenheimer & Co. Inc. lessened its stake in Lam Research Co. (NASDAQ:LRCX) by 56.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,408 shares of the semiconductor company’s stock after selling 5,639 shares during the period. Oppenheimer & Co. Inc.’s holdings in Lam Research were worth $762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of LRCX. Harvest Fund Management Co. Ltd acquired a new stake in Lam Research in the first quarter worth about $116,000. NuWave Investment Management LLC acquired a new stake in Lam Research in the second quarter worth about $100,000. Psagot Investment House Ltd. boosted its holdings in Lam Research by 200.0% in the first quarter. Psagot Investment House Ltd. now owns 600 shares of the semiconductor company’s stock worth $122,000 after acquiring an additional 400 shares in the last quarter. Clear Perspective Advisors LLC acquired a new stake in Lam Research in the second quarter worth about $108,000. Finally, Financial Gravity Wealth Inc. acquired a new stake in Lam Research in the first quarter worth about $165,000. Institutional investors own 88.97% of the company’s stock.
Several brokerages have weighed in on LRCX. Evercore ISI lowered their price target on Lam Research to $240.00 and set an “outperform” rating for the company in a report on Tuesday, July 17th. BidaskClub downgraded Lam Research from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. ValuEngine downgraded Lam Research from a “hold” rating to a “sell” rating in a report on Saturday, August 18th. Bank of America lowered their price target on Lam Research from $305.00 to $285.00 and set a “buy” rating for the company in a report on Monday, June 11th. Finally, UBS Group raised Lam Research from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a report on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Lam Research has a consensus rating of “Buy” and an average target price of $249.80.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Thursday, July 26th. The semiconductor company reported $5.31 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.37. Lam Research had a return on equity of 47.14% and a net margin of 21.49%. The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the business posted $3.11 EPS. The business’s revenue for the quarter was up 33.3% on a year-over-year basis. research analysts expect that Lam Research Co. will post 15.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 26th. Investors of record on Wednesday, September 12th will be paid a dividend of $1.10 per share. The ex-dividend date is Tuesday, September 11th. This represents a $4.40 dividend on an annualized basis and a yield of 2.75%. Lam Research’s dividend payout ratio is presently 24.62%.
About Lam Research
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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