Miracle Mile Advisors LLC bought a new position in shares of Lam Research Corporation (NASDAQ:LRCX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,125 shares of the semiconductor company’s stock, valued at approximately $208,000.
Other institutional investors have also added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of Lam Research Corporation during the second quarter worth $254,000. Bollard Group LLC purchased a new stake in shares of Lam Research Corporation during the third quarter worth $130,000. Odey Holdings AG grew its holdings in shares of Lam Research Corporation by 9.9% during the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after buying an additional 73 shares in the last quarter. BDO Wealth Advisors LLC purchased a new stake in shares of Lam Research Corporation during the second quarter worth $118,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Lam Research Corporation during the second quarter worth $134,000. 94.72% of the stock is owned by institutional investors and hedge funds.
Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.19. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. Lam Research Corporation had a return on equity of 30.19% and a net margin of 22.85%. The company’s revenue was up 51.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio is currently 16.45%.
In other news, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $170.00, for a total value of $127,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Timothy Archer sold 8,691 shares of Lam Research Corporation stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $171.76, for a total value of $1,492,766.16. The disclosure for this sale can be found here. Insiders sold a total of 40,419 shares of company stock worth $7,167,497 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.
LRCX has been the subject of a number of research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Lam Research Corporation in a report on Friday, July 7th. BidaskClub raised shares of Lam Research Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. DA Davidson reaffirmed a “buy” rating and set a $175.00 target price on shares of Lam Research Corporation in a report on Wednesday, July 26th. B. Riley reaffirmed a “buy” rating and set a $220.00 target price on shares of Lam Research Corporation in a report on Thursday, July 27th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $185.00 target price (up previously from $150.00) on shares of Lam Research Corporation in a report on Thursday, July 27th. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $209.32.
Lam Research Corporation 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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