Castellan Group lowered its position in Lam Research Co. (NASDAQ: LRCX – Get Rating) by 47.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,670 shares of the semiconductor company stock after selling 1,530 shares during the period. Castellan Group’s holdings in Lam Research were worth $ 1,201,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Synovus Financial Corp increased its position in shares of Lam Research by 0.6% in the 4th quarter. Synovus Financial Corp now owns 2,948 shares of the semiconductor company stock valued at $ 2,116,000 after buying an additional 17 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Lam Research by 1.9% in the 4th quarter. Chicago Partners Investment Group LLC now owns 914 shares of the semiconductor company stock valued at $ 510,000 after buying an additional 17 shares in the last quarter. Brookstone Capital Management increased its position in shares of Lam Research by 4.5% in the 4th quarter. Brookstone Capital Management now owns 419 shares of the semiconductor company stock valued at $ 280,000 after buying an additional 18 shares in the last quarter. JGP Wealth Management LLC increased its position in shares of Lam Research by 4.6% in the 4th quarter. JGP Wealth Management LLC now owns 413 shares of the semiconductor company stock valued at $ 286,000 after buying an additional 18 shares in the last quarter. Finally, Traynor Capital Management Inc. increased its position in shares of Lam Research by 0.7% in the 4th quarter. Traynor Capital Management Inc. now owns 2,683 shares of the semiconductor company stock valued at $ 1,929,000 after buying an additional 18 shares in the last quarter. Institutional investors and hedge funds own 82.34% of the company stock.
A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their target price on Lam Research from $ 650.00 to $ 560.00 and set a “hold” rating for the company in a report on Wednesday, April 13th. Piper Sandler lowered their target price on Lam Research from $ 596.00 to $ 567.00 and set a “neutral” rating for the company in a report on Thursday, May 26th. Jefferies Financial Group lowered their target price on Lam Research from $ 869.00 to $ 670.00 in a report on Friday, April 22nd. Stifel Nicolaus increased their target price on Lam Research from $ 775.00 to $ 837.00 in a report on Thursday, April 7th. Finally, Morgan Stanley lowered their target price on Lam Research from $ 730.00 to $ 625.00 and set an “overweight” rating for the company in a report on Thursday, April 21st. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Lam Research currently has an average rating of “Hold” and a consensus price target of $ 674.00.
In other news, Director Catherine P. Lego acquired 1,736 shares of the firm’s stock in a transaction that occurred on Tuesday, April 26th. The shares were acquired at an average cost of $ 460.35 per share, with a total value of $ 799,167.60. Following the completion of the purchase, the director now directly owns 49,991 shares of the company stock, valued at approximately $ 23,013,356.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott Gerald Meikle sold 700 shares of Lam Research stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 20,425 shares in the company, valued at $ 11,054,418.50. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by insiders.
NASDAQ LRCX opened at $ 449.77 on Wednesday. The company has a current ratio of 2.83, a quick ratio of 2.00 and a debt-to-equity ratio of 0.83. Lam Research Co. has a 1-year low of $ 442.53 and a 1-year high of $ 731.85. The company has a 50 day moving average of $ 483.45 and a 200-day moving average of $ 566.31. The company has a market cap of $ 62.39 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 0.97 and a beta of 1.26.
Lam Research (NASDAQ: LRCX – Get Rating) last released its quarterly earnings results on Wednesday, April 20th. The semiconductor company reported $ 7.40 earnings per share for the quarter, missing analysts’ consensus estimates of $ 7.48 by ($ 0.08). Lam Research had a net margin of 27.13% and a return on equity of 75.51%. The business had revenue of $ 4.06 billion during the quarter, compared to analyst estimates of $ 4.24 billion. During the same quarter in the previous year, the firm posted $ 7.49 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that Lam Research Co. will post 31.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 6th. Stockholders of record on Wednesday, June 15th will be given a $ 1.50 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $ 6.00 dividend on an annualized basis and a dividend yield of 1.33%. Lam Research’s payout ratio is 18.76%.
Lam Research Company 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; SABER 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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