Legal & General Group Plc cut its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 4.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 711,481 shares of the semiconductor company’s stock after selling 36,136 shares during the quarter. Legal & General Group Plc owned 0.43% of Lam Research worth $122,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. NuWave Investment Management LLC purchased a new stake in Lam Research in the 2nd quarter worth approximately $100,000. Clear Perspective Advisors LLC purchased a new stake in Lam Research in the 2nd quarter worth approximately $108,000. Harvest Fund Management Co. Ltd purchased a new stake in Lam Research in the 1st quarter worth approximately $116,000. Psagot Investment House Ltd. lifted its holdings in Lam Research by 200.0% in the 1st quarter. Psagot Investment House Ltd. now owns 600 shares of the semiconductor company’s stock worth $122,000 after buying an additional 400 shares during the period. Finally, Field & Main Bank lifted its holdings in Lam Research by 127.3% in the 1st quarter. Field & Main Bank now owns 625 shares of the semiconductor company’s stock worth $127,000 after buying an additional 350 shares during the period. Institutional investors own 88.97% of the company’s stock.

Several research firms have weighed in on LRCX. BidaskClub cut Lam Research from a “sell” rating to a “strong sell” rating in a report on Friday. Bank of America cut Lam Research from a “buy” rating to a “neutral” rating and set a $285.00 price objective for the company. in a report on Tuesday. ValuEngine cut Lam Research from a “hold” rating to a “sell” rating in a report on Saturday, August 18th. Citigroup dropped their price objective on Lam Research from $239.00 to $216.00 and set a “buy” rating for the company in a report on Monday, July 30th. Finally, Morgan Stanley dropped their price objective on Lam Research from $219.00 to $208.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $249.80.

Lam Research stock opened at $172.47 on Friday. The firm has a market capitalization of $27.44 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. Lam Research Co. has a 12 month low of $156.83 and a 12 month high of $234.88. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.90 and a quick ratio of 2.31.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Thursday, July 26th. The semiconductor company reported $5.31 EPS for the quarter, topping the Zacks’ consensus estimate of $4.94 by $0.37. The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.08 billion. Lam Research had a return on equity of 47.14% and a net margin of 21.49%. The company’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.11 EPS. equities research analysts forecast that Lam Research Co. will post 15.51 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 26th. Shareholders of record on Wednesday, September 12th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.55%. Lam Research’s payout ratio is 24.62%.

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

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