Hilltop Holdings Inc. reduced its holdings in Lam Research Co. (NASDAQ:LRCX – Get Rating) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,195 shares of the semiconductor company’s stock after selling 49 shares during the quarter. Hilltop Holdings Inc.’s holdings in Lam Research were worth $859,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the stock. Morgan Stanley grew its stake in Lam Research by 40.5% in the 2nd quarter. Morgan Stanley now owns 951,434 shares of the semiconductor company’s stock valued at $619,097,000 after buying an additional 274,306 shares during the last quarter. Keudell Morrison Wealth Management grew its position in Lam Research by 8.8% in the 3rd quarter. Keudell Morrison Wealth Management now owns 1,850 shares of the semiconductor company’s stock worth $1,053,000 after purchasing an additional 150 shares during the last quarter. American Century Companies Inc. grew its position in Lam Research by 66.7% in the 3rd quarter. American Century Companies Inc. now owns 22,756 shares of the semiconductor company’s stock worth $12,952,000 after purchasing an additional 9,102 shares during the last quarter. Geode Capital Management LLC grew its position in Lam Research by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,327,529 shares of the semiconductor company’s stock worth $1,321,242,000 after purchasing an additional 29,491 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in Lam Research by 86.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 1,695 shares of the semiconductor company’s stock worth $965,000 after purchasing an additional 788 shares during the last quarter. Institutional investors and hedge funds own 82.34% of the company’s stock.
A number of research firms have recently commented on LRCX. B. Riley reduced their price objective on shares of Lam Research from $725.00 to $625.00 and set a “buy” rating for the company in a report on Monday, April 18th. Susquehanna Bancshares cut their price target on shares of Lam Research from $655.00 to $640.00 and set a “neutral” rating for the company in a report on Thursday, January 27th. Susquehanna dropped their target price on shares of Lam Research from $655.00 to $640.00 and set a “neutral” rating for the company in a research note on Thursday, January 27th. Piper Sandler dropped their target price on shares of Lam Research from $627.00 to $596.00 and set a “neutral” rating for the company in a research note on Thursday, April 21st. Finally, Stifel Nicolaus boosted their target price on shares of Lam Research from $775.00 to $837.00 in a research note on Thursday, April 7th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $670.90.
Lam Research (NASDAQ:LRCX – Get Rating) last announced its quarterly earnings data on Wednesday, April 20th. The semiconductor company reported $7.40 EPS for the quarter, missing the consensus estimate of $7.48 by ($0.08). Lam Research had a return on equity of 75.51% and a net margin of 27.13%. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the business earned $7.49 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Lam Research Co. will post 31.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 6th. Stockholders of record on Wednesday, June 15th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Tuesday, June 14th. Lam Research’s payout ratio is 18.76%.
In related news, SVP Scott Gerald Meikle sold 700 shares of the stock in a transaction on Friday, April 1st. The shares were sold at an average price of $541.22, for a total transaction of $378,854.00. Following the transaction, the senior vice president now owns 20,425 shares of the company’s stock, valued at approximately $11,054,418.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Catherine P. Lego bought 1,736 shares of Lam Research stock in a transaction that occurred on Tuesday, April 26th. The shares were acquired at an average cost of $460.35 per share, for a total transaction of $799,167.60. Following the acquisition, the director now owns 49,991 shares in the company, valued at approximately $23,013,356.85. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.
Lam Research Profile (Get Rating)
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.
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