American National Bank reduced its position in shares of Lam Research Co. (NASDAQ:LRCX) by 65.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 894 shares of the semiconductor company’s stock after selling 1,717 shares during the quarter. American National Bank’s holdings in Lam Research were worth $532,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Veritas Investment Partners UK Ltd. bought a new stake in Lam Research during the fourth quarter worth $26,000. Bartlett & Co. LLC bought a new stake in Lam Research during the fourth quarter worth $27,000. DB Wealth Management Group LLC bought a new stake in Lam Research during the fourth quarter worth $34,000. Catalyst Private Wealth LLC bought a new stake in Lam Research during the third quarter worth $39,000. Finally, Capital Asset Advisory Services LLC bought a new stake in Lam Research during the fourth quarter worth $40,000. 84.03% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on the stock. B. Riley upped their price objective on shares of Lam Research from $670.00 to $800.00 and gave the company a “buy” rating in a report on Monday, April 5th. Mizuho upped their price objective on shares of Lam Research from $530.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, January 28th. Barclays upped their price objective on shares of Lam Research from $405.00 to $600.00 and gave the company an “overweight” rating in a report on Tuesday, January 26th. They noted that the move was a valuation call. Stifel Nicolaus upped their price objective on shares of Lam Research from $550.00 to $620.00 in a report on Thursday, January 28th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $616.00 price objective (up from $557.00) on shares of Lam Research in a report on Monday, January 18th. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $517.71.
Lam Research (NASDAQ:LRCX) last posted its earnings results on Tuesday, January 26th. The semiconductor company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.31. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Lam Research had a net margin of 23.60% and a return on equity of 55.82%. The business’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.01 earnings per share. As a group, equities analysts predict that Lam Research Co. will post 22.41 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 7th. Investors of record on Wednesday, March 17th were issued a $1.30 dividend. The ex-dividend date was Tuesday, March 16th. This represents a $5.20 dividend on an annualized basis and a yield of 0.79%. Lam Research’s dividend payout ratio (DPR) is presently 32.60%.
In other Lam Research news, CEO Timothy Archer sold 4,464 shares of the stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $515.00, for a total transaction of $2,298,960.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Patrick J. Lord sold 4,166 shares of the stock in a transaction that occurred on Monday, March 1st. The shares were sold at an average price of $576.56, for a total transaction of $2,401,948.96. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.
Lam Research Company 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 products for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.
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