Crosslink Capital Inc. Reduces Position in Lam Research Co. (NASDAQ:LRCX)
Crosslink Capital Inc. cut its position in Lam Research Co. (NASDAQ:LRCX) by 19.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,931 shares of the semiconductor company’s stock after selling 14,690 shares during the period. Lam Research accounts for 2.6% of Crosslink Capital Inc.’s investment portfolio, making the stock its 13th largest holding. Crosslink Capital Inc.’s holdings in Lam Research were worth $11,445,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the business. Lcnb Corp grew its position in Lam Research by 2.2% during the 2nd quarter. Lcnb Corp now owns 2,306 shares of the semiconductor company’s stock worth $433,000 after purchasing an additional 50 shares during the last quarter. Cypress Capital LLC lifted its stake in shares of Lam Research by 1.4% in the 2nd quarter. Cypress Capital LLC now owns 4,126 shares of the semiconductor company’s stock worth $775,000 after acquiring an additional 56 shares during the period. Confluence Wealth Management LLC lifted its stake in shares of Lam Research by 2.0% in the 2nd quarter. Confluence Wealth Management LLC now owns 2,906 shares of the semiconductor company’s stock worth $546,000 after acquiring an additional 56 shares during the period. ETF Managers Group LLC lifted its stake in shares of Lam Research by 9.0% in the 1st quarter. ETF Managers Group LLC now owns 713 shares of the semiconductor company’s stock worth $128,000 after acquiring an additional 59 shares during the period. Finally, Synovus Financial Corp lifted its stake in shares of Lam Research by 10.7% in the 1st quarter. Synovus Financial Corp now owns 654 shares of the semiconductor company’s stock worth $117,000 after acquiring an additional 63 shares during the period. 88.65% of the stock is currently owned by institutional investors.
Several analysts have recently commented on the stock. BidaskClub upgraded shares of Lam Research from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Needham & Company LLC raised their target price on shares of Lam Research from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday. Credit Suisse Group restated a “positive” rating on shares of Lam Research in a research note on Monday, July 8th. They noted that the move was a valuation call. Goldman Sachs Group cut shares of Lam Research from a “buy” rating to a “neutral” rating in a research note on Monday, July 22nd. Finally, DA Davidson cut shares of Lam Research from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $225.00 to $200.00 in a research note on Monday, July 8th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $221.88.
Shares of NASDAQ LRCX traded up $0.42 during midday trading on Friday, hitting $235.29. The company had a trading volume of 131,762 shares, compared to its average volume of 1,530,589. The company has a quick ratio of 2.96, a current ratio of 3.61 and a debt-to-equity ratio of 0.81. Lam Research Co. has a twelve month low of $122.64 and a twelve month high of $236.34. The business has a 50-day simple moving average of $208.59 and a two-hundred day simple moving average of $192.24. The firm has a market capitalization of $33.52 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.42 and a beta of 1.62.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $3.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.40 by $0.22. Lam Research had a net margin of 22.70% and a return on equity of 43.72%. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter last year, the business earned $5.31 earnings per share. The business’s revenue for the quarter was down 24.5% compared to the same quarter last year. On average, equities analysts forecast that Lam Research Co. will post 13.6 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Tuesday, October 1st will be paid a $1.15 dividend. This is a boost from Lam Research’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend is Monday, September 30th. This represents a $4.60 annualized dividend and a dividend yield of 1.96%. Lam Research’s dividend payout ratio (DPR) is 30.24%.
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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