Guggenheim Capital LLC increased its position in shares of Lam Research Co. (NASDAQ:LRCX – Get Rating) by 6.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,744 shares of the semiconductor company’s stock after purchasing an additional 6,668 shares during the quarter. Guggenheim Capital LLC owned 0.08% of Lam Research worth $40,532,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Baird Financial Group Inc. raised its position in Lam Research by 11.5% during the first quarter. Baird Financial Group Inc. now owns 39,514 shares of the semiconductor company’s stock valued at $21,243,000 after acquiring an additional 4,090 shares in the last quarter. Zions Bancorporation N.A. raised its position in Lam Research by 39.1% during the first quarter. Zions Bancorporation N.A. now owns 281 shares of the semiconductor company’s stock valued at $151,000 after acquiring an additional 79 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in Lam Research by 18.8% during the first quarter. Brown Brothers Harriman & Co. now owns 721 shares of the semiconductor company’s stock valued at $388,000 after acquiring an additional 114 shares in the last quarter. Covestor Ltd raised its position in Lam Research by 51.9% during the first quarter. Covestor Ltd now owns 322 shares of the semiconductor company’s stock valued at $173,000 after acquiring an additional 110 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in Lam Research by 11.8% during the first quarter. Mackenzie Financial Corp now owns 233,280 shares of the semiconductor company’s stock valued at $125,414,000 after acquiring an additional 24,636 shares in the last quarter. Institutional investors and hedge funds own 81.60% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on LRCX. Stifel Nicolaus began coverage on Lam Research in a research report on Tuesday, January 17th. They issued a “hold” rating and a $495.00 price objective for the company. Barclays boosted their price target on Lam Research from $300.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Monday, January 23rd. DA Davidson reiterated a “neutral” rating on shares of Lam Research in a research report on Tuesday, January 3rd. Wells Fargo & Company upped their price target on Lam Research from $410.00 to $470.00 and gave the company an “equal weight” rating in a research note on Thursday, January 26th. Finally, Mizuho upped their price target on Lam Research from $500.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, January 26th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $492.10.
Lam Research Price Performance
NASDAQ LRCX traded down $2.79 during mid-day trading on Wednesday, hitting $475.50. The stock had a trading volume of 138,633 shares, compared to its average volume of 1,305,998. Lam Research Co. has a 52-week low of $299.59 and a 52-week high of $574.79. The company has a market cap of $64.16 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 8.55 and a beta of 1.47. The company has a 50 day simple moving average of $469.56 and a 200 day simple moving average of $442.07. The company has a quick ratio of 1.95, a current ratio of 3.02 and a debt-to-equity ratio of 0.60.
Lam Research (NASDAQ:LRCX – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The semiconductor company reported $10.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.95 by $0.76. Lam Research had a return on equity of 73.48% and a net margin of 26.91%. The business had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter last year, the firm earned $8.53 earnings per share. The business’s revenue was up 24.9% on a year-over-year basis. Equities analysts forecast that Lam Research Co. will post 33.3 EPS for the current fiscal year.
Lam Research Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 15th will be paid a dividend of $1.725 per share. This represents a $6.90 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Tuesday, March 14th. Lam Research’s dividend payout ratio is presently 18.55%.
Insiders Place Their Bets
In other news, Director Abhijit Y. Talwalkar sold 880 shares of Lam Research stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $429.72, for a total transaction of $378,153.60. Following the sale, the director now directly owns 14,762 shares of the company’s stock, valued at $6,343,526.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Abhijit Y. Talwalkar sold 880 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $429.72, for a total value of $378,153.60. Following the completion of the sale, the director now directly owns 14,762 shares of the company’s stock, valued at $6,343,526.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Richard A. Gottscho sold 3,540 shares of the company’s stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $450.00, for a total value of $1,593,000.00. Following the transaction, the executive vice president now directly owns 26,672 shares of the company’s stock, valued at $12,002,400. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.
Lam Research Company Profile
Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.