Kalos Management Inc. Has $888,000 Holdings in Lam Research Corporation (LRCX)
Kalos Management Inc. raised its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 1.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 6,284 shares of the semiconductor company’s stock after purchasing an additional 64 shares during the period. Kalos Management Inc.’s holdings in Lam Research Corporation were worth $888,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in LRCX. Stephens Inc. AR boosted its stake in Lam Research Corporation by 6.8% during the 1st quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock valued at $109,000 after purchasing an additional 54 shares during the last quarter. Odey Holdings AG boosted its stake in Lam Research Corporation by 9.9% during the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 73 shares during the last quarter. BDO Wealth Advisors LLC acquired a new position in Lam Research Corporation during the 2nd quarter valued at about $118,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Lam Research Corporation during the 2nd quarter valued at about $134,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in Lam Research Corporation by 358.3% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 860 shares during the last quarter. Institutional investors and hedge funds own 93.96% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research downgraded Lam Research Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. KeyCorp restated an “outperform” rating and issued a $202.00 target price on shares of Lam Research Corporation in a research note on Saturday, September 16th. Argus initiated coverage on Lam Research Corporation in a research note on Tuesday, September 12th. They issued a “buy” rating and a $196.00 target price on the stock. Cowen and Company restated an “outperform” rating and issued a $185.00 target price (up previously from $150.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. Finally, Needham & Company LLC boosted their target price on Lam Research Corporation from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have given a buy rating to the stock. Lam Research Corporation presently has a consensus rating of “Buy” and an average target price of $179.61.
In related news, Director Stephen G. Newberry sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $162.75, for a total value of $244,125.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Timothy Archer sold 6,897 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total transaction of $1,106,968.50. The disclosure for this sale can be found here. Insiders sold 48,066 shares of company stock worth $8,350,148 in the last 90 days. 0.41% of the stock is currently owned by corporate insiders.
Lam Research Corporation (LRCX) traded down 0.414% during midday trading on Wednesday, hitting $184.135. 863,484 shares of the company were exchanged. The stock has a market capitalization of $29.92 billion, a price-to-earnings ratio of 19.928 and a beta of 1.53. Lam Research Corporation has a 1-year low of $93.69 and a 1-year high of $187.57. The stock has a 50 day moving average of $172.59 and a 200-day moving average of $155.02.
Lam Research Corporation (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.02 by $0.09. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the company posted $1.80 earnings per share. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. Equities analysts expect that Lam Research Corporation will post $12.80 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.97%. The ex-dividend date was Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio is currently 19.57%.
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About Lam Research Corporation
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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