Lam Research Co. (NASDAQ:LRCX) Shares Sold by Guardian Capital LP

Guardian Capital LP lowered its stake in shares of Lam Research Co. (NASDAQ:LRCXGet Rating) by 44.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 905 shares of the semiconductor company’s stock after selling 723 shares during the quarter. Guardian Capital LP’s holdings in Lam Research were worth $386,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. KRS Capital Management LLC increased its holdings in Lam Research by 1.4% in the 2nd quarter. KRS Capital Management LLC now owns 1,497 shares of the semiconductor company’s stock worth $638,000 after buying an additional 20 shares during the period. Beaumont Financial Partners LLC increased its holdings in Lam Research by 0.8% in the 2nd quarter. Beaumont Financial Partners LLC now owns 2,595 shares of the semiconductor company’s stock worth $1,106,000 after buying an additional 20 shares during the period. Intercontinental Wealth Advisors LLC increased its holdings in Lam Research by 3.2% in the 1st quarter. Intercontinental Wealth Advisors LLC now owns 711 shares of the semiconductor company’s stock worth $382,000 after buying an additional 22 shares during the period. Financial Advocates Investment Management increased its holdings in Lam Research by 3.3% in the 1st quarter. Financial Advocates Investment Management now owns 696 shares of the semiconductor company’s stock worth $374,000 after buying an additional 22 shares during the period. Finally, Hudock Inc. increased its holdings in Lam Research by 10.6% in the 2nd quarter. Hudock Inc. now owns 230 shares of the semiconductor company’s stock worth $98,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds own 80.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group increased their price target on shares of Lam Research from $510.00 to $530.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Mizuho lowered their price objective on Lam Research from $650.00 to $400.00 and set a “buy” rating on the stock in a research report on Tuesday, October 18th. The Goldman Sachs Group lowered their price objective on Lam Research from $504.00 to $434.00 and set a “buy” rating on the stock in a research report on Friday, October 14th. Morgan Stanley lowered their price objective on Lam Research from $429.00 to $404.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Lam Research from $480.00 to $400.00 and set a “hold” rating on the stock in a research report on Thursday, October 13th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Lam Research currently has an average rating of “Moderate Buy” and an average price target of $484.86.

Lam Research Price Performance

NASDAQ LRCX traded up $5.78 during mid-day trading on Thursday, hitting $461.40. The stock had a trading volume of 823,667 shares, compared to its average volume of 2,077,977. The firm’s 50 day moving average is $398.23 and its 200 day moving average is $440.43. Lam Research Co. has a twelve month low of $299.59 and a twelve month high of $731.85. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.69 and a quick ratio of 1.83. The stock has a market capitalization of $62.93 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.86 and a beta of 1.37.

Lam Research (NASDAQ:LRCXGet Rating) last posted its quarterly earnings data on Wednesday, October 19th. The semiconductor company reported $10.42 EPS for the quarter, beating the consensus estimate of $9.54 by $0.88. Lam Research had a return on equity of 74.74% and a net margin of 26.96%. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.91 billion. During the same period in the prior year, the company earned $8.36 EPS. The firm’s revenue was up 17.9% compared to the same quarter last year. Equities research analysts forecast that Lam Research Co. will post 34.63 earnings per share for the current fiscal year.

Lam Research Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be paid a $1.725 dividend. This represents a $6.90 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, December 13th. Lam Research’s dividend payout ratio (DPR) is presently 19.79%.

About Lam Research

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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.

See Also

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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