Robeco Institutional Asset Management B.V. lowered its stake in Lam Research Co. (NASDAQ:LRCX) by 21.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 221,046 shares of the semiconductor company’s stock after selling 61,760 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.15% of Lam Research worth $51,086,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Hexavest Inc. acquired a new position in shares of Lam Research in the second quarter valued at approximately $28,000. MUFG Americas Holdings Corp grew its position in shares of Lam Research by 75.0% in the second quarter. MUFG Americas Holdings Corp now owns 175 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 75 shares during the last quarter. Next Capital Management LLC acquired a new position in shares of Lam Research in the second quarter valued at approximately $35,000. HM Payson & Co. acquired a new position in shares of Lam Research in the second quarter valued at approximately $36,000. Finally, Doyle Wealth Management acquired a new position in shares of Lam Research in the second quarter valued at approximately $42,000. 88.68% of the stock is currently owned by institutional investors and hedge funds.
In other Lam Research news, CFO Douglas R. Bettinger sold 18,693 shares of Lam Research stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $279.03, for a total transaction of $5,215,907.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Richard A. Gottscho sold 3,741 shares of Lam Research stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $219.00, for a total transaction of $819,279.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,202 shares of company stock worth $21,620,104. 0.43% of the stock is owned by insiders.
Shares of LRCX traded down $1.43 during trading hours on Friday, reaching $272.68. The stock had a trading volume of 1,373,000 shares, compared to its average volume of 2,042,073. Lam Research Co. has a 12 month low of $122.64 and a 12 month high of $282.88. The stock has a market capitalization of $40.32 billion, a PE ratio of 18.74, a PEG ratio of 1.36 and a beta of 1.67. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.99 and a current ratio of 3.59. The company’s 50-day moving average is $247.19 and its two-hundred day moving average is $210.36.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $3.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.17. Lam Research had a net margin of 22.38% and a return on equity of 43.11%. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter last year, the firm earned $3.36 EPS. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. Equities analysts anticipate that Lam Research Co. will post 15.04 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 16th. Investors of record on Tuesday, October 1st were given a $1.15 dividend. This is a boost from Lam Research’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Monday, September 30th. This represents a $4.60 annualized dividend and a yield of 1.69%. Lam Research’s dividend payout ratio (DPR) is presently 31.62%.
Several research firms have recently commented on LRCX. Stifel Nicolaus upped their target price on Lam Research from $248.00 to $284.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Susquehanna Bancshares upped their target price on Lam Research from $195.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Royal Bank of Canada upped their target price on Lam Research from $230.00 to $273.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Cowen boosted their price target on Lam Research from $235.00 to $290.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, B. Riley boosted their price target on Lam Research from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Twelve research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $258.58.
Lam Research Company Profile
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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