First Trust Advisors LP cut its holdings in Lam Research Co. (NASDAQ:LRCX) by 19.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 674,238 shares of the semiconductor company’s stock after selling 157,768 shares during the quarter. First Trust Advisors LP owned 0.44% of Lam Research worth $102,282,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. NuWave Investment Management LLC acquired a new position in shares of Lam Research during the second quarter worth approximately $100,000. Clear Perspective Advisors LLC acquired a new position in shares of Lam Research during the second quarter worth approximately $108,000. Signet Financial Management LLC raised its position in shares of Lam Research by 21,700.0% during the second quarter. Signet Financial Management LLC now owns 654 shares of the semiconductor company’s stock worth $113,000 after purchasing an additional 651 shares during the period. Ruggie Capital Group acquired a new position in shares of Lam Research during the second quarter worth approximately $134,000. Finally, Bollard Group LLC raised its position in shares of Lam Research by 43.0% during the second quarter. Bollard Group LLC now owns 1,005 shares of the semiconductor company’s stock worth $174,000 after purchasing an additional 302 shares during the period. 92.10% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on LRCX shares. BidaskClub raised Lam Research from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. KeyCorp lowered their target price on Lam Research from $283.00 to $261.00 and set an “overweight” rating on the stock in a research report on Friday, July 27th. Zacks Investment Research lowered Lam Research from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. B. Riley upped their target price on Lam Research to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 17th. Finally, ValuEngine lowered Lam Research from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 12th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $226.93.
Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.22 by $0.14. Lam Research had a return on equity of 49.80% and a net margin of 21.26%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company posted $3.46 earnings per share. Lam Research’s revenue was down 6.0% compared to the same quarter last year. On average, equities analysts anticipate that Lam Research Co. will post 14.37 EPS for the current year.
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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