Lido Advisors LLC trimmed its holdings in Lam Research Co. (NASDAQ:LRCX) by 17.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,003 shares of the semiconductor company’s stock after selling 845 shares during the quarter. Lido Advisors LLC’s holdings in Lam Research were worth $607,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Wealth Management LLC raised its holdings in Lam Research by 6,337.2% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 69,393 shares of the semiconductor company’s stock worth $401,000 after buying an additional 68,315 shares during the period. Acadian Asset Management LLC acquired a new stake in Lam Research during the 2nd quarter worth about $825,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Lam Research during the 2nd quarter worth about $4,091,000. Jennison Associates LLC raised its holdings in Lam Research by 11.5% during the 2nd quarter. Jennison Associates LLC now owns 216,997 shares of the semiconductor company’s stock worth $37,508,000 after buying an additional 22,385 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Lam Research during the 2nd quarter worth about $2,968,000. 89.13% of the stock is owned by institutional investors.
LRCX has been the topic of several recent analyst reports. Goldman Sachs Group downgraded Lam Research from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $224.00 to $180.00 in a report on Wednesday, September 12th. BidaskClub downgraded Lam Research from a “sell” rating to a “strong sell” rating in a report on Friday, August 31st. ValuEngine downgraded Lam Research from a “hold” rating to a “sell” rating in a report on Saturday, August 18th. Bank of America downgraded Lam Research from a “buy” rating to a “neutral” rating and set a $285.00 price objective on the stock. in a report on Tuesday, August 28th. Finally, Citigroup dropped their target price on Lam Research from $216.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, September 25th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Lam Research has a consensus rating of “Buy” and a consensus price target of $224.22.
Lam Research (NASDAQ:LRCX) last issued its earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.14. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. Lam Research had a return on equity of 49.80% and a net margin of 21.26%. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.46 EPS. On average, sell-side analysts expect that Lam Research Co. will post 14.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Wednesday, December 5th will be paid a $1.10 dividend. The ex-dividend date is Tuesday, December 4th. This represents a $4.40 annualized dividend and a dividend yield of 3.19%. Lam Research’s payout ratio is 24.62%.
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Lam Research 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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