NGAM Advisors L.P. boosted its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 3.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,152 shares of the semiconductor company’s stock after buying an additional 850 shares during the period. NGAM Advisors L.P.’s holdings in Lam Research Corporation were worth $3,557,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Stephens Inc. AR boosted its position in Lam Research Corporation by 6.8% in the first quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 54 shares in the last quarter. IFP Advisors Inc boosted its position in Lam Research Corporation by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 22 shares in the last quarter. Huntington National Bank boosted its position in Lam Research Corporation by 82.1% in the first quarter. Huntington National Bank now owns 1,118 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 504 shares in the last quarter. 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 in the last quarter. Finally, Financial Architects Inc boosted its position in Lam Research Corporation by 1,164.8% in the second quarter. Financial Architects Inc now owns 1,366 shares of the semiconductor company’s stock valued at $193,000 after buying an additional 1,258 shares in the last quarter. 98.98% of the stock is owned by institutional investors and hedge funds.
Shares of Lam Research Corporation (NASDAQ LRCX) traded up 1.28% on Friday, hitting $160.49. The company had a trading volume of 1,924,780 shares. The firm has a market capitalization of $26.07 billion, a price-to-earnings ratio of 17.37 and a beta of 1.46. The company has a 50 day moving average price of $155.93 and a 200 day moving average price of $140.94. Lam Research Corporation has a 1-year low of $89.80 and a 1-year high of $170.00.
Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.09. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Lam Research Corporation had a return on equity of 26.78% and a net margin of 21.19%. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.80 EPS. On average, equities analysts forecast that Lam Research Corporation will post $12.71 earnings per share for the current fiscal 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 issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a yield of 1.12%. Lam Research Corporation’s dividend payout ratio (DPR) is 19.57%.
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Several research firms recently weighed in on LRCX. UBS AG reissued a “buy” rating and issued a $190.00 target price on shares of Lam Research Corporation in a research note on Tuesday, June 13th. B. Riley reaffirmed a “buy” rating and set a $220.00 price target on shares of Lam Research Corporation in a report on Thursday, July 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $185.00 price target (up previously from $145.00) on shares of Lam Research Corporation in a report on Thursday, July 27th. BidaskClub downgraded Lam Research Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Needham & Company LLC raised their price target on Lam Research Corporation from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Four 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 company. The stock has a consensus rating of “Buy” and an average target price of $175.18.
In related news, COO Timothy Archer sold 6,897 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total transaction of $1,106,968.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stephen G. Newberry sold 750 shares of the stock in a transaction dated Wednesday, July 12th. The stock was 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 have sold a total of 31,609 shares of company stock worth $4,918,116 in the last three months. 0.46% of the stock is currently 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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