Murphy Capital Management Inc. decreased its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,750 shares of the semiconductor company’s stock after selling 150 shares during the quarter. Murphy Capital Management Inc.’s holdings in Lam Research were worth $646,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. We Are One Seven LLC acquired a new position in shares of Lam Research in the 4th quarter worth approximately $26,000. Duncker Streett & Co. Inc. raised its holdings in shares of Lam Research by 100.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 200 shares of the semiconductor company’s stock worth $27,000 after buying an additional 100 shares in the last quarter. Csenge Advisory Group acquired a new stake in Lam Research during the 3rd quarter valued at $35,000. IMS Capital Management acquired a new stake in Lam Research during the 3rd quarter valued at $38,000. Finally, Parkside Financial Bank & Trust increased its holdings in Lam Research by 44.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 347 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 89.11% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Lam Research from a “strong sell” rating to a “hold” rating in a report on Monday, January 28th. Royal Bank of Canada raised Lam Research from a “sector perform” rating to an “outperform” rating and set a $190.00 price target on the stock in a research note on Tuesday, January 29th. B. Riley boosted their price target on Lam Research to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, January 24th. ValuEngine upgraded Lam Research from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 28th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $278.00 price target on shares of Lam Research in a report on Monday, January 21st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Lam Research presently has an average rating of “Buy” and an average target price of $216.39.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 23rd. The semiconductor company reported $3.87 EPS for the quarter, beating the Zacks’ consensus estimate of $3.67 by $0.20. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Lam Research had a net margin of 26.69% and a return on equity of 48.08%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.34 earnings per share. As a group, sell-side analysts predict that Lam Research Co. will post 13.9 EPS for the current year.
Lam Research declared that its board has initiated a share buyback program on Wednesday, January 23rd that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to reacquire up to 23% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, SVP Kevin Jennings sold 1,692 shares of the stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $180.00, for a total transaction of $304,560.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christine Heckart sold 2,050 shares of the stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $172.98, for a total transaction of $354,609.00. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.
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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