Calamos Wealth Management LLC grew its holdings in Lam Research Co. (NASDAQ:LRCX) by 33.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,020 shares of the semiconductor company’s stock after buying an additional 509 shares during the quarter. Calamos Wealth Management LLC’s holdings in Lam Research were worth $591,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Allred Capital Management LLC acquired a new stake in shares of Lam Research in the 4th quarter valued at approximately $30,000. Marquette Asset Management LLC acquired a new stake in shares of Lam Research in the 3rd quarter valued at approximately $35,000. HM Payson & Co. acquired a new stake in shares of Lam Research in the 2nd quarter valued at approximately $36,000. Doyle Wealth Management acquired a new stake in shares of Lam Research in the 2nd quarter valued at approximately $42,000. Finally, Corbenic Partners LLC acquired a new stake in shares of Lam Research in the 4th quarter valued at approximately $47,000. 86.63% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. B. Riley lifted their price objective on Lam Research from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Nomura lifted their price objective on Lam Research from $216.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Credit Suisse Group reaffirmed an “outperform” rating and set a $300.00 price objective (up from $278.00) on shares of Lam Research in a report on Thursday, October 24th. Royal Bank of Canada lifted their price objective on Lam Research from $230.00 to $273.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Morgan Stanley lifted their price objective on Lam Research from $255.00 to $287.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $264.79.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, October 23rd. The semiconductor company reported $3.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.17. Lam Research had a return on equity of 43.11% and a net margin of 22.38%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the previous year, the firm posted $3.36 earnings per share. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, analysts anticipate that Lam Research Co. will post 15.21 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Wednesday, December 11th were issued a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.54%. Lam Research’s dividend payout ratio (DPR) is 31.62%.
In other news, CEO Timothy Archer sold 13,026 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $295.78, for a total value of $3,852,830.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Douglas R. Bettinger sold 18,693 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $279.03, for a total value of $5,215,907.79. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,576 shares of company stock valued at $20,803,977. Insiders own 0.43% of the company’s stock.
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 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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