Lam Research Corporation (LRCX) Shares Bought by Deroy & Devereaux Private Investment Counsel Inc.

Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 0.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 151,979 shares of the semiconductor company’s stock after buying an additional 232 shares during the period. Lam Research Corporation comprises approximately 2.5% of Deroy & Devereaux Private Investment Counsel Inc.’s investment portfolio, making the stock its 6th largest position. Deroy & Devereaux Private Investment Counsel Inc. owned 0.09% of Lam Research Corporation worth $21,494,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in LRCX. Harbour Capital Advisors LLC boosted its stake in shares of Lam Research Corporation by 13,054.2% in the second quarter. Harbour Capital Advisors LLC now owns 1,890,919 shares of the semiconductor company’s stock worth $13,370,000 after buying an additional 1,876,544 shares during the period. Soros Fund Management LLC acquired a new position in Lam Research Corporation during the first quarter worth approximately $71,978,000. Vanguard Group Inc. raised its position in Lam Research Corporation by 3.1% in the first quarter. Vanguard Group Inc. now owns 15,750,128 shares of the semiconductor company’s stock worth $2,021,687,000 after buying an additional 471,405 shares in the last quarter. Acadian Asset Management LLC raised its position in Lam Research Corporation by 260.9% in the second quarter. Acadian Asset Management LLC now owns 626,623 shares of the semiconductor company’s stock worth $88,624,000 after buying an additional 452,972 shares in the last quarter. Finally, LSV Asset Management raised its position in Lam Research Corporation by 22.9% in the first quarter. LSV Asset Management now owns 2,408,170 shares of the semiconductor company’s stock worth $309,112,000 after buying an additional 449,402 shares in the last quarter. Hedge funds and other institutional investors own 98.98% of the company’s stock.

Lam Research Corporation (LRCX) opened at 154.26 on Friday. The company’s 50 day moving average price is $154.07 and its 200-day moving average price is $139.36. The company has a market capitalization of $24.95 billion, a P/E ratio of 16.69 and a beta of 1.46. 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 posted its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.09. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.95%. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the firm posted $1.80 EPS. The firm’s revenue was up 51.6% on a year-over-year basis. Equities analysts forecast that Lam Research Corporation will post $12.71 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be given 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 (DPR) is presently 19.57%.

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A number of equities analysts have commented on LRCX shares. Morgan Stanley reissued an “overweight” rating on shares of Lam Research Corporation in a research note on Friday, July 7th. Bank of America Corporation reissued a “buy” rating and issued a $195.00 price objective (up previously from $165.00) on shares of Lam Research Corporation in a research note on Sunday, June 11th. Stifel Nicolaus reissued a “buy” rating and issued a $189.00 price objective (up previously from $170.00) on shares of Lam Research Corporation in a research note on Monday, June 19th. Needham & Company LLC boosted their price objective on Lam Research Corporation from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, June 16th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $200.00 price target on shares of Lam Research Corporation in a research note on Wednesday, May 17th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Lam Research Corporation currently has an average rating of “Buy” and an average price target of $172.41.

In other Lam Research Corporation news, COO Timothy Archer sold 6,897 shares of Lam Research Corporation stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $160.50, for a total value of $1,106,968.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total transaction of $120,375.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,656 shares of company stock valued at $7,925,366. 0.46% of the stock is currently owned by insiders.

About Lam Research Corporation

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.

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

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