D.A. Davidson & CO. Has $5.13 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

Posted by Defense World Staff on Jul 10th, 2023

D.A. Davidson & CO. decreased its stake in Lam Research Co. (NASDAQ:LRCX – Free Report) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,675 shares of the semiconductor company’s stock after selling 415 shares during the period. D.A. Davidson & CO.’s holdings in Lam Research were worth $5,134,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LRCX. Moneta Group Investment Advisors LLC grew its stake in shares of Lam Research by 117,180.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 32,822,222 shares of the semiconductor company’s stock worth $13,795,180,000 after acquiring an additional 32,794,236 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Lam Research by 507.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,389,485 shares of the semiconductor company’s stock worth $1,424,601,000 after acquiring an additional 2,831,381 shares during the last quarter. Norges Bank acquired a new stake in Lam Research during the fourth quarter worth $619,226,000. Winslow Capital Management LLC acquired a new stake in Lam Research during the fourth quarter worth $315,930,000. Finally, Sanders Capital LLC acquired a new stake in Lam Research during the fourth quarter worth $271,175,000. Institutional investors and hedge funds own 85.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LRCX. Wells Fargo & Company lifted their price target on shares of Lam Research from $470.00 to $500.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 20th. Stifel Nicolaus lifted their price target on shares of Lam Research from $495.00 to $505.00 and gave the stock a “hold” rating in a research note on Thursday, April 20th. JPMorgan Chase & Co. lifted their price target on shares of Lam Research from $515.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, April 20th. Evercore ISI lifted their price target on shares of Lam Research from $525.00 to $540.00 and gave the stock an “outperform” rating in a research note on Thursday, April 20th. Finally, StockNews.com assumed coverage on Lam Research in a report on Thursday, May 18th. They set a “hold” rating for the company. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $505.00.

Insiders Place Their Bets

In other news, Director Abhijit Y. Talwalkar sold 882 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $642.86, for a total transaction of $567,002.52. Following the completion of the transaction, the director now directly owns 12,999 shares in the company, valued at approximately $8,356,537.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.35% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $617.87 on Monday. The stock has a market capitalization of $83.00 billion, a P/E ratio of 17.21, a P/E/G ratio of 9.82 and a beta of 1.46. Lam Research Co. has a 1-year low of $299.59 and a 1-year high of $651.01. The company has a current ratio of 3.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $595.10 and a two-hundred day moving average price of $524.99.

Lam Research (NASDAQ:LRCX – Free Report) last announced its quarterly earnings data on Wednesday, April 19th. The semiconductor company reported $6.99 earnings per share for the quarter, topping the consensus estimate of $6.53 by $0.46. The firm had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Lam Research had a return on equity of 66.54% and a net margin of 26.08%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $7.40 EPS. Equities analysts predict that Lam Research Co. will post 33.19 earnings per share for the current year.

Lam Research Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th were issued a dividend of $1.725 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $6.90 annualized dividend and a yield of 1.12%. Lam Research’s dividend payout ratio is currently 19.21%.

About Lam Research

(Free Report)

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.