EverSource Wealth Advisors LLC increased its position in shares of Lam Research Co. (NASDAQ:LRCX – Get Rating) by 93.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 155 shares of the semiconductor company’s stock after acquiring an additional 75 shares during the period. EverSource Wealth Advisors LLC’s holdings in Lam Research were worth $83,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Vectors Research Management LLC increased its holdings in shares of Lam Research by 133.3% in the 4th quarter. Vectors Research Management LLC now owns 35 shares of the semiconductor company’s stock worth $25,000 after buying an additional 20 shares during the last quarter. Stonebridge Capital Advisors LLC grew its holdings in shares of Lam Research by 100.0% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company’s stock valued at $27,000 after purchasing an additional 19 shares during the last quarter. Capital Advisory Group Advisory Services LLC bought a new position in shares of Lam Research during the 1st quarter valued at $27,000. OLD Second National Bank of Aurora bought a new position in shares of Lam Research during the 1st quarter valued at $27,000. Finally, Delos Wealth Advisors LLC bought a new position in shares of Lam Research during the 4th quarter valued at $30,000. Institutional investors own 80.09% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. Bank of America reduced their target price on shares of Lam Research from $650.00 to $540.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. UBS Group increased their price target on shares of Lam Research from $510.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. The Goldman Sachs Group increased their price target on shares of Lam Research from $448.00 to $504.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Barclays cut shares of Lam Research from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $625.00 to $450.00 in a research report on Wednesday, August 3rd. Finally, Citigroup dropped their price target on shares of Lam Research from $720.00 to $700.00 in a research report on Thursday, July 28th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $610.30.
Lam Research Stock Down 1.0 %
Lam Research (NASDAQ:LRCX – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The semiconductor company reported $8.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.30 by $1.53. The company had revenue of $4.64 billion during the quarter, compared to analyst estimates of $4.21 billion. Lam Research had a net margin of 26.73% and a return on equity of 75.71%. Lam Research’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business earned $8.09 EPS. As a group, sell-side analysts anticipate that Lam Research Co. will post 37.31 earnings per share for the current fiscal year.
Lam Research Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Wednesday, September 14th will be paid a $1.725 dividend. The ex-dividend date is Tuesday, September 13th. This is a positive change from Lam Research’s previous quarterly dividend of $1.50. This represents a $6.90 dividend on an annualized basis and a dividend yield of 1.69%. Lam Research’s payout ratio is currently 21.07%.
About Lam Research
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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