ClariVest Asset Management LLC boosted its stake in Lam Research Corp. (NASDAQ:LRCX) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 348,707 shares of the company’s stock after buying an additional 382 shares during the period. ClariVest Asset Management LLC’s holdings in Lam Research Corp. were worth $29,312,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in LRCX. Aperio Group LLC raised its position in shares of Lam Research Corp. by 9.3% in the first quarter. Aperio Group LLC now owns 51,086 shares of the company’s stock valued at $4,220,000 after buying an additional 4,353 shares during the last quarter. Ngam Advisors L.P. raised its position in shares of Lam Research Corp. by 44.3% in the first quarter. Ngam Advisors L.P. now owns 27,759 shares of the company’s stock valued at $2,292,000 after buying an additional 8,522 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Lam Research Corp. by 4.0% in the first quarter. Prudential Financial Inc. now owns 239,775 shares of the company’s stock valued at $19,806,000 after buying an additional 9,230 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Lam Research Corp. by 0.8% in the first quarter. Franklin Resources Inc. now owns 1,435,651 shares of the company’s stock valued at $118,585,000 after buying an additional 10,940 shares during the last quarter. Finally, BlackRock Group LTD raised its position in shares of Lam Research Corp. by 3.9% in the first quarter. BlackRock Group LTD now owns 1,618,463 shares of the company’s stock valued at $133,685,000 after buying an additional 60,958 shares during the last quarter.
Lam Research Corp. (NASDAQ:LRCX) traded up 1.41% during midday trading on Wednesday, reaching $96.17. The company had a trading volume of 3,186,062 shares. The company has a market capitalization of $15.41 billion, a price-to-earnings ratio of 18.42 and a beta of 1.47. Lam Research Corp. has a 52 week low of $63.10 and a 52 week high of $96.50. The firm has a 50-day moving average price of $92.92 and a 200-day moving average price of $85.49.
Lam Research Corp. (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.16. The business earned $1.55 billion during the quarter, compared to analyst estimates of $1.53 billion. Lam Research Corp. had a net margin of 15.53% and a return on equity of 18.95%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.50 EPS. Analysts expect that Lam Research Corp. will post $6.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th were paid a dividend of $0.30 per share. The ex-dividend date was Monday, September 12th. This represents a $1.20 dividend on an annualized basis and a yield of 1.25%. Lam Research Corp.’s dividend payout ratio is presently 22.99%.
LRCX has been the topic of several recent research reports. Nomura increased their price target on Lam Research Corp. from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, June 23rd. Needham & Company LLC reissued a “buy” rating on shares of Lam Research Corp. in a research note on Saturday, June 25th. Cowen and Company reissued an “outperform” rating and issued a $85.00 price objective on shares of Lam Research Corp. in a research note on Tuesday, July 12th. BlueFin Research raised Lam Research Corp. to a “positive” rating in a research note on Monday, July 18th. Finally, Zacks Investment Research raised Lam Research Corp. from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $99.06.
About Lam Research Corp.
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.
Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Corp. (NASDAQ:LRCX).
Receive News & Ratings for Lam Research Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research Corp. and related companies with MarketBeat.com's FREE daily email newsletter.