Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in Lam Research Corporation (NASDAQ:LRCX) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 70,921 shares of the semiconductor company’s stock, valued at approximately $10,077,000.
A number of other large investors also recently modified their holdings of LRCX. Regentatlantic Capital LLC acquired a new position in Lam Research Corporation during the first quarter valued at about $214,000. Pennsylvania Trust Co acquired a new position in Lam Research Corporation during the first quarter valued at about $226,000. Quadrant Capital Group LLC boosted its position in Lam Research Corporation by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 1,332 shares of the semiconductor company’s stock valued at $168,000 after buying an additional 4 shares during the last quarter. Koshinski Asset Management Inc. boosted its position in Lam Research Corporation by 382.1% in the first quarter. Koshinski Asset Management Inc. now owns 17,984 shares of the semiconductor company’s stock valued at $2,308,000 after buying an additional 14,254 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its position 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. 98.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lam Research Corporation (LRCX) opened at 154.26 on Friday. The stock’s 50 day moving average price is $154.07 and its 200 day moving average price is $139.36. Lam Research Corporation has a one year low of $89.10 and a one year high of $170.00. The stock has a market capitalization of $24.95 billion, a P/E ratio of 16.69 and a beta of 1.46.
Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings data 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 return on equity of 26.95% and a net margin of 21.19%. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the firm earned $1.80 earnings per share. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, analysts forecast that Lam Research Corporation will post $12.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.17%. Lam Research Corporation’s dividend payout ratio (DPR) is presently 19.57%.
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Several research analysts have recently issued reports on LRCX shares. Needham & Company LLC reissued a “buy” rating and issued a $165.00 price target (up previously from $145.00) on shares of Lam Research Corporation in a research note on Saturday, April 22nd. Deutsche Bank AG increased their price target on Lam Research Corporation from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Citigroup Inc. reissued a “buy” rating and issued a $200.00 price target on shares of Lam Research Corporation in a research note on Wednesday, May 17th. Goldman Sachs Group, Inc. (The) cut Lam Research Corporation from a “conviction-buy” rating to a “buy” rating and increased their price target for the stock from $153.00 to $160.00 in a research note on Monday, May 8th. They noted that the move was a valuation call. Finally, B. Riley reissued a “buy” rating and issued a $175.00 price target on shares of Lam Research Corporation in a research note on Monday, April 24th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $172.41.
In other Lam Research Corporation news, COO Timothy Archer sold 6,897 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total value of $1,106,968.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction dated 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. Over the last ninety days, insiders have sold 51,656 shares of company stock valued at $7,925,366. 0.46% of the stock is owned by 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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