IFC Holdings Incorporated FL Invests $1.35 Million in Lam Research Corporation (NASDAQ:LRCX)

IFC Holdings Incorporated FL purchased a new stake in shares of Lam Research Corporation (NASDAQ:LRCX) during the second quarter, Holdings Channel reports. The institutional investor purchased 9,516 shares of the semiconductor company’s stock, valued at approximately $1,352,000.

Other hedge funds have also recently bought and sold shares of the company. Raymond James Trust N.A. purchased a new stake in Lam Research Corporation during the first quarter valued at $320,000. Creative Planning increased its stake in Lam Research Corporation by 45.5% in the first quarter. Creative Planning now owns 9,680 shares of the semiconductor company’s stock valued at $1,243,000 after buying an additional 3,026 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in Lam Research Corporation by 7.2% in the first quarter. Gulf International Bank UK Ltd now owns 50,712 shares of the semiconductor company’s stock valued at $6,509,000 after buying an additional 3,400 shares during the last quarter. Pennsylvania Trust Co purchased a new stake in Lam Research Corporation during the first quarter valued at $226,000. Finally, Regentatlantic Capital LLC purchased a new stake in Lam Research Corporation during the first quarter valued at $214,000. Institutional investors and hedge funds own 98.98% of the company’s stock.

Lam Research Corporation (NASDAQ:LRCX) opened at 154.26 on Friday. The firm has a market cap of $24.95 billion, a PE ratio of 16.69 and a beta of 1.46. The company has a 50-day moving average price of $154.07 and a 200-day moving average price of $139.36. Lam Research Corporation has a 12-month low of $89.10 and a 12-month high of $170.00.

Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.09. Lam Research Corporation had a return on equity of 26.95% and a net margin of 21.19%. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the company earned $1.80 EPS. The firm’s revenue for the quarter was up 51.6% compared to the same quarter last year. On average, equities analysts predict that Lam Research Corporation will post $12.71 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio is presently 19.57%.

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Several analysts have weighed in on LRCX shares. Stifel Nicolaus reiterated a “buy” rating and set a $150.00 price target on shares of Lam Research Corporation in a research note on Monday, April 17th. Cowen and Company reiterated an “outperform” rating and set a $125.00 price target on shares of Lam Research Corporation in a research note on Monday, April 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $145.00 price target (up previously from $140.00) on shares of Lam Research Corporation in a research note on Tuesday, April 18th. B. Riley reiterated a “buy” rating and set a $175.00 price target on shares of Lam Research Corporation in a research note on Wednesday, April 19th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $129.00 price target on shares of Lam Research Corporation in a research note on Wednesday, April 19th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Lam Research Corporation presently has a consensus rating of “Buy” and an average target price of $172.41.

In other Lam Research Corporation news, SVP Sarah A. O’dowd sold 10,000 shares of Lam Research Corporation stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $150.92, for a total value of $1,509,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total value of $116,557.50. The disclosure for this sale can be found here. Insiders sold a total of 51,656 shares of company stock worth $7,925,366 in the last ninety days. 0.46% of the stock is owned by corporate insiders.

Lam Research Corporation Company Profile

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment.

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Institutional Ownership by Quarter for Lam Research Corporation (NASDAQ:LRCX)

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