Exchange Traded Concepts LLC Has $4.25 Million Stock Position in Lam Research Co. (NASDAQ:LRCX)

14 Oct 2024, 07:50 by Jessica Moore · The Cerbat Gem

Exchange Traded Concepts LLC increased its holdings in Lam Research Co. (NASDAQ:LRCX – Free Report) by 30.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,209 shares of the semiconductor company’s stock after acquiring an additional 1,204 shares during the period. Exchange Traded Concepts LLC’s holdings in Lam Research were worth $4,251,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Lam Research by 1.2% in the first quarter. Vanguard Group Inc. now owns 11,856,661 shares of the semiconductor company’s stock valued at $11,519,576,000 after purchasing an additional 144,914 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Lam Research by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,959,151 shares of the semiconductor company’s stock valued at $2,875,023,000 after acquiring an additional 142,903 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Lam Research by 7.7% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,254,188 shares of the semiconductor company’s stock worth $1,335,522,000 after acquiring an additional 89,470 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Lam Research by 11.1% during the second quarter. Van ECK Associates Corp now owns 1,075,893 shares of the semiconductor company’s stock worth $1,145,664,000 after purchasing an additional 107,778 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Lam Research by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 614,205 shares of the semiconductor company’s stock worth $654,009,000 after purchasing an additional 25,362 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Morgan Stanley cut their target price on Lam Research from $92.90 to $77.40 and set an “equal weight” rating on the stock in a research note on Tuesday, September 17th. B. Riley upped their price objective on Lam Research from $113.00 to $132.50 and gave the company a “buy” rating in a research note on Thursday, June 20th. Mizuho decreased their target price on Lam Research from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. UBS Group cut their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Finally, Needham & Company LLC restated a “buy” rating and set a $113.00 price objective on shares of Lam Research in a report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.28.

Read Our Latest Research Report on LRCX

Lam Research Stock Performance

NASDAQ:LRCX opened at $82.89 on Monday. Lam Research Co. has a 52-week low of $57.44 and a 52-week high of $113.00. The business’s fifty day moving average is $94.96 and its 200 day moving average is $96.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.00 and a current ratio of 2.97. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 3.05, a PEG ratio of 1.75 and a beta of 1.47.

Lam Research (NASDAQ:LRCX – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.82 billion. Lam Research had a net margin of 25.68% and a return on equity of 48.71%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. Research analysts predict that Lam Research Co. will post 3.52 EPS for the current year.

Lam Research Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.11%. The ex-dividend date was Tuesday, September 17th. Lam Research’s dividend payout ratio (DPR) is currently 3.38%.

Insider Transactions at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total transaction of $528,928.97. Following the sale, the chief accounting officer now owns 4,267 shares in the company, valued at $3,488,315.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Lam Research Company Profile

(Free Report)