Barings LLC decreased its position in shares of Lam Research Co. (NASDAQ:LRCX) by 36.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,760 shares of the semiconductor company’s stock after selling 7,323 shares during the period. Barings LLC’s holdings in Lam Research were worth $1,936,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of LRCX. Summit Trail Advisors LLC boosted its position in Lam Research by 27.1% in the first quarter. Summit Trail Advisors LLC now owns 2,812 shares of the semiconductor company’s stock valued at $399,000 after buying an additional 599 shares in the last quarter. Suntrust Banks Inc. boosted its position in Lam Research by 7.8% in the first quarter. Suntrust Banks Inc. now owns 8,020 shares of the semiconductor company’s stock valued at $1,628,000 after buying an additional 581 shares in the last quarter. Cerebellum GP LLC acquired a new stake in Lam Research in the second quarter valued at approximately $184,000. New England Research & Management Inc. acquired a new stake in Lam Research in the second quarter valued at approximately $1,270,000. Finally, DnB Asset Management AS acquired a new stake in Lam Research in the second quarter valued at approximately $5,693,000. Institutional investors and hedge funds own 91.85% of the company’s stock.
LRCX has been the topic of a number of research analyst reports. Susquehanna Bancshares cut their target price on shares of Lam Research from $290.00 to $260.00 and set a “positive” rating on the stock in a research report on Monday, July 9th. Citigroup cut their target price on shares of Lam Research from $245.00 to $239.00 and set a “buy” rating on the stock in a research report on Friday, July 13th. Evercore ISI cut their target price on shares of Lam Research to $240.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 17th. BidaskClub upgraded shares of Lam Research from a “sell” rating to a “hold” rating in a research report on Thursday, July 19th. Finally, Zacks Investment Research upgraded shares of Lam Research from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Lam Research has a consensus rating of “Buy” and a consensus target price of $224.22.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Tuesday, October 16th. The semiconductor company reported $3.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.22 by $0.14. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.31 billion. Lam Research had a net margin of 21.26% and a return on equity of 49.80%. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.46 earnings per share. On average, research analysts predict that Lam Research Co. will post 14.37 EPS for the current year.
About Lam Research
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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