Lam Research Co. (NASDAQ:LRCX) Position Lifted by Mackay Shields LLC

Mackay Shields LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 100.7% during the second quarter, HoldingsChannel reports. The fund owned 81,694 shares of the semiconductor company’s stock after acquiring an additional 40,991 shares during the quarter. Mackay Shields LLC’s holdings in Lam Research were worth $53,158,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Capital Analysts LLC bought a new stake in Lam Research in the 1st quarter valued at about $32,000. Evoke Wealth LLC increased its stake in Lam Research by 150.0% during the 1st quarter. Evoke Wealth LLC now owns 60 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 36 shares during the period. Gemmer Asset Management LLC increased its stake in Lam Research by 39.0% during the 2nd quarter. Gemmer Asset Management LLC now owns 57 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 16 shares during the period. Harbour Investments Inc. acquired a new position in Lam Research during the 1st quarter valued at about $38,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Lam Research by 54.3% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 71 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 25 shares during the period. Institutional investors own 81.32% of the company’s stock.

Several equities analysts have commented on the stock. Stifel Nicolaus reissued a “buy” rating and set a $790.00 target price on shares of Lam Research in a research note on Friday, September 10th. Mizuho lifted their price objective on shares of Lam Research from $705.00 to $725.00 and gave the stock a “buy” rating in a research note on Thursday, July 29th. UBS Group lowered their price objective on shares of Lam Research from $780.00 to $715.00 and set a “buy” rating on the stock in a research note on Tuesday, September 21st. Susquehanna Bancshares cut shares of Lam Research from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $750.00 to $690.00 in a research note on Tuesday, September 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lam Research in a research note on Thursday, July 29th. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $702.83.

NASDAQ LRCX traded up $20.53 during trading on Thursday, reaching $564.94. The company’s stock had a trading volume of 46,274 shares, compared to its average volume of 1,431,502. The company has a current ratio of 3.30, a quick ratio of 2.54 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $80.20 billion, a PE ratio of 20.21, a PEG ratio of 1.05 and a beta of 1.24. The business has a 50-day moving average price of $590.59 and a 200-day moving average price of $615.02. Lam Research Co. has a 1-year low of $333.31 and a 1-year high of $673.80.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 28th. The semiconductor company reported $8.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $7.53 by $0.56. Lam Research had a net margin of 26.72% and a return on equity of 70.92%. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same period in the previous year, the company earned $4.78 earnings per share. As a group, analysts expect that Lam Research Co. will post 33.45 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 13th. Stockholders of record on Tuesday, September 28th were given a $1.50 dividend. This is a positive change from Lam Research’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Monday, September 27th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.06%. Lam Research’s dividend payout ratio (DPR) is currently 22.03%.

In related news, SVP Scott Gerald Meikle sold 500 shares of the business’s stock in a transaction on Wednesday, September 15th. The shares were sold at an average price of $603.79, for a total transaction of $301,895.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy Archer sold 4,464 shares of the business’s stock in a transaction on Friday, August 27th. The stock was sold at an average price of $600.00, for a total transaction of $2,678,400.00. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Lam Research Company Profile

Lam Research Corp. engages in manufacturing and servicing of wafer processing semiconductor manufacturing equipment. It operates through the following geographical segments: the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. It offers thin film deposition, plasma etch, photoresist strip, and wafer cleaning.

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Institutional Ownership by Quarter for Lam Research (NASDAQ:LRCX)

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