Lockheed Martin Investment Management Co. maintained its position in shares of Lam Research Co. (NASDAQ:LRCX) during the first quarter, Holdings Channel reports. The firm owned 10,000 shares of the semiconductor company’s stock at the end of the first quarter. Lockheed Martin Investment Management Co.’s holdings in Lam Research were worth $1,284,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. IFP Advisors Inc boosted its position in shares of Lam Research by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock worth $109,000 after buying an additional 22 shares during the last quarter. Huntington National Bank boosted its position in shares of Lam Research by 82.1% in the first quarter. Huntington National Bank now owns 1,118 shares of the semiconductor company’s stock worth $144,000 after buying an additional 504 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of Lam Research by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 1,332 shares of the semiconductor company’s stock worth $168,000 after buying an additional 4 shares during the last quarter. Atria Investments LLC acquired a new position in shares of Lam Research during the first quarter worth approximately $203,000. Finally, IFM Investors Pty Ltd acquired a new position in shares of Lam Research during the fourth quarter worth approximately $205,000.
Lam Research Co. (NASDAQ:LRCX) traded up 0.10% during trading on Friday, reaching $154.06. 1,169,004 shares of the company were exchanged. Lam Research Co. has a 52-week low of $79.15 and a 52-week high of $154.37. The stock has a market capitalization of $24.85 billion, a PE ratio of 19.57 and a beta of 1.44. The firm’s 50 day moving average is $143.59 and its 200 day moving average is $120.69.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings data on Tuesday, April 18th. The semiconductor company reported $2.80 EPS for the quarter, topping the Zacks’ consensus estimate of $2.55 by $0.25. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.13 billion. Lam Research had a return on equity of 19.95% and a net margin of 15.67%. The firm’s revenue was up 63.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.18 EPS. Analysts expect that Lam Research Co. will post $9.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 28th. Investors of record on Wednesday, June 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, June 5th. This represents a $1.80 dividend on an annualized basis and a yield of 1.17%. Lam Research’s payout ratio is currently 32.37%.
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A number of equities analysts have commented on LRCX shares. Needham & Company LLC reissued a “buy” rating and issued a $145.00 price objective (up from $135.00) on shares of Lam Research in a research note on Thursday, January 26th. B. Riley reissued a “buy” rating and issued a $150.00 price objective on shares of Lam Research in a research note on Saturday, January 28th. Stifel Nicolaus reissued a “buy” rating and issued a $150.00 price objective (up from $125.00) on shares of Lam Research in a research note on Monday, March 27th. Zacks Investment Research raised shares of Lam Research from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a research note on Wednesday, March 22nd. Finally, Royal Bank of Canada restated a “buy” rating and issued a $125.00 target price on shares of Lam Research in a report on Monday, April 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $142.31.
In related news, Director Stephen G. Newberry sold 20,047 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $150.01, for a total transaction of $3,007,250.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Douglas R. Bettinger sold 17,322 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $118.27, for a total value of $2,048,672.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,100 shares of company stock valued at $23,052,500. 0.46% of the stock is owned by company insiders.
About Lam Research
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.
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