Contravisory Investment Management Inc. lowered its stake in Lam Research Co. (NASDAQ:LRCX) by 10.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 716 shares of the semiconductor company’s stock after selling 86 shares during the period. Contravisory Investment Management Inc.’s holdings in Lam Research were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of LRCX. Kestra Advisory Services LLC acquired a new position in shares of Lam Research in the third quarter worth about $1,211,000. Mercer Capital Advisers Inc. acquired a new position in shares of Lam Research in the third quarter worth about $25,000. Mirova acquired a new position in shares of Lam Research in the third quarter worth about $39,000. Catalyst Private Wealth LLC acquired a new stake in Lam Research during the third quarter valued at approximately $39,000. Finally, Paces Ferry Wealth Advisors LLC acquired a new stake in Lam Research during the third quarter valued at approximately $42,000. 76.86% of the stock is currently owned by institutional investors.
Several analysts have issued reports on the company. Stifel Nicolaus upped their price objective on Lam Research from $352.00 to $418.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. UBS Group upped their price objective on Lam Research from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Royal Bank of Canada upped their price objective on Lam Research from $420.00 to $495.00 in a research note on Tuesday, January 5th. Morgan Stanley increased their price target on Lam Research from $420.00 to $553.00 and gave the stock an “overweight” rating in a research report on Monday, December 14th. Finally, B. Riley increased their price objective on Lam Research from $465.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, December 14th. Five investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. Lam Research has an average rating of “Buy” and an average price target of $412.96.
Shares of NASDAQ:LRCX opened at $526.50 on Thursday. The company’s 50 day moving average price is $485.38 and its two-hundred day moving average price is $388.56. Lam Research Co. has a 12-month low of $181.38 and a 12-month high of $537.86. The firm has a market cap of $75.82 billion, a PE ratio of 29.86, a PEG ratio of 1.34 and a beta of 1.33. The company has a quick ratio of 2.68, a current ratio of 3.31 and a debt-to-equity ratio of 0.92.
Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 21st. The semiconductor company reported $5.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.17 by $0.50. Lam Research had a net margin of 23.60% and a return on equity of 55.82%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the business posted $3.18 EPS. On average, research analysts expect that Lam Research Co. will post 22.31 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 6th. Stockholders of record on Wednesday, December 9th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Tuesday, December 8th. Lam Research’s dividend payout ratio (DPR) is presently 32.60%.
About Lam Research
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits in the United States, China, Europe, Japan, Korea, Taiwan, and the southeast Asia. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.
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