First Hawaiian Bank trimmed its stake in Lam Research Co. (NASDAQ:LRCX – Get Rating) by 42.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 676 shares of the semiconductor company’s stock after selling 503 shares during the quarter. First Hawaiian Bank’s holdings in Lam Research were worth $364,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Missouri Trust & Investment Co acquired a new stake in shares of Lam Research in the fourth quarter valued at approximately $25,000. Allegheny Financial Group LTD acquired a new stake in shares of Lam Research in the fourth quarter valued at approximately $25,000. Vectors Research Management LLC lifted its position in shares of Lam Research by 133.3% in the fourth quarter. Vectors Research Management LLC now owns 35 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 20 shares during the last quarter. Stonebridge Capital Advisors LLC lifted its holdings in Lam Research by 100.0% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 38 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 19 shares during the last quarter. Finally, Delos Wealth Advisors LLC acquired a new stake in Lam Research during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 82.34% of the company’s stock.
In other Lam Research news, Director Catherine P. Lego acquired 1,736 shares of the company’s stock in a transaction dated Tuesday, April 26th. The shares were bought at an average cost of $460.35 per share, with a total value of $799,167.60. Following the purchase, the director now directly owns 49,991 shares of the company’s stock, valued at $23,013,356.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Scott Gerald Meikle sold 700 shares of the company’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $541.22, for a total value of $378,854.00. Following the transaction, the senior vice president now directly owns 20,425 shares in the company, valued at $11,054,418.50. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.
Lam Research (NASDAQ:LRCX – Get Rating) last announced its earnings results on Wednesday, April 20th. The semiconductor company reported $7.40 EPS for the quarter, missing the consensus estimate of $7.48 by ($0.08). The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.24 billion. Lam Research had a return on equity of 75.51% and a net margin of 27.13%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.49 earnings per share. Equities research analysts predict that Lam Research Co. will post 31.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 6th. Stockholders of record on Wednesday, June 15th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Tuesday, June 14th. Lam Research’s dividend payout ratio is 18.76%.
Several analysts recently weighed in on LRCX shares. Stifel Nicolaus lifted their price target on Lam Research from $775.00 to $837.00 in a report on Thursday, April 7th. Piper Sandler lowered their price objective on Lam Research from $596.00 to $567.00 and set a “neutral” rating on the stock in a research note on Thursday, May 26th. B. Riley lowered Lam Research from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $625.00 to $525.00 in a research note on Wednesday, June 15th. Morgan Stanley lowered their price objective on Lam Research from $730.00 to $625.00 and set an “overweight” rating on the stock in a research note on Thursday, April 21st. Finally, Wells Fargo & Company lowered their price objective on Lam Research from $610.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Monday, April 18th. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lam Research currently has an average rating of “Hold” and an average target price of $668.74.
Lam Research Company Profile (Get Rating)
Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.
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