Hermes Investment Management Ltd. increased its stake in Lam Research Co. (NASDAQ:LRCX) by 38.1% during the first quarter, Holdings Channel reports. The fund owned 521,758 shares of the semiconductor company’s stock after buying an additional 144,076 shares during the period. Lam Research accounts for approximately 1.1% of Hermes Investment Management Ltd.’s portfolio, making the stock its 28th largest position. Hermes Investment Management Ltd. owned approximately 0.32% of Lam Research worth $66,973,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of LRCX. DnB Asset Management AS increased its stake in Lam Research by 3.6% in the third quarter. DnB Asset Management AS now owns 14,437 shares of the semiconductor company’s stock valued at $1,367,000 after buying an additional 500 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Lam Research by 8.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 468,164 shares of the semiconductor company’s stock valued at $44,340,000 after buying an additional 37,446 shares during the last quarter. V Wealth Management LLC increased its stake in Lam Research by 3.8% in the third quarter. V Wealth Management LLC now owns 20,420 shares of the semiconductor company’s stock valued at $1,938,000 after buying an additional 750 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in Lam Research by 2.6% in the third quarter. Great West Life Assurance Co. Can now owns 126,810 shares of the semiconductor company’s stock valued at $12,002,000 after buying an additional 3,176 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. increased its stake in Lam Research by 0.4% in the third quarter. Neville Rodie & Shaw Inc. now owns 55,091 shares of the semiconductor company’s stock valued at $5,218,000 after buying an additional 214 shares during the last quarter.
Shares of Lam Research Co. (NASDAQ:LRCX) traded up 0.5239% during trading on Friday, reaching $140.0901. The company had a trading volume of 2,453,459 shares. The stock has a market capitalization of $22.81 billion, a price-to-earnings ratio of 25.1103 and a beta of 1.44. The company’s 50 day moving average is $125.74 and its 200-day moving average is $111.36. Lam Research Co. has a 1-year low of $72.00 and a 1-year high of $140.23.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Tuesday, April 18th. The semiconductor company reported $2.80 EPS for the quarter, beating the Zacks’ consensus estimate of $2.55 by $0.25. The company earned $2.15 billion during the quarter, compared to the consensus estimate of $2.13 billion. Lam Research had a net margin of 15.67% and a return on equity of 19.95%. Lam Research’s quarterly revenue was up 63.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.18 EPS. On average, equities research analysts anticipate that Lam Research Co. will post $9.27 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 29th. Shareholders of record on Wednesday, March 8th were issued a $0.45 dividend. The ex-dividend date was Monday, March 6th. This represents a $1.80 dividend on an annualized basis and a yield of 1.29%. Lam Research’s payout ratio is 32.37%.
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Several analysts recently weighed in on the company. Deutsche Bank AG upped their price target on Lam Research from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada restated a “buy” rating and issued a $125.00 price target on shares of Lam Research in a research note on Monday, April 3rd. Zacks Investment Research upgraded Lam Research from a “hold” rating to a “buy” rating and set a $143.00 price target on the stock in a research note on Tuesday, March 28th. Stifel Nicolaus restated a “buy” rating and issued a $150.00 price target (up previously from $125.00) on shares of Lam Research in a research note on Monday, March 27th. Finally, Morgan Stanley restated an “overweight” rating and issued a $129.00 price target on shares of Lam Research in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Lam Research has a consensus rating of “Buy” and an average target price of $127.56.
In other Lam Research news, insider Richard A. Gottscho sold 80,009 shares of the stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $124.50, for a total value of $9,961,120.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Timothy Archer sold 4,223 shares of the stock in a transaction dated Thursday, March 23rd. The shares were sold at an average price of $125.25, for a total transaction of $528,930.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 265,968 shares of company stock valued at $31,900,341. 0.46% of the stock is owned by 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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