Smithfield Trust Co. lowered its position in Lam Research Corp. (NASDAQ:LRCX) by 7.4% during the second quarter, Holdings Channel reports. The fund owned 3,446 shares of the company’s stock after selling 277 shares during the period. Smithfield Trust Co.’s holdings in Lam Research Corp. were worth $290,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC raised its stake in Lam Research Corp. by 28.6% in the second quarter. Quadrant Capital Group LLC now owns 1,258 shares of the company’s stock valued at $103,000 after buying an additional 280 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in Lam Research Corp. during the second quarter valued at about $232,000. E&G Advisors LP raised its stake in Lam Research Corp. by 23.1% in the second quarter. E&G Advisors LP now owns 3,200 shares of the company’s stock valued at $269,000 after buying an additional 600 shares in the last quarter. Private Trust Co. NA raised its stake in Lam Research Corp. by 14.4% in the second quarter. Private Trust Co. NA now owns 3,353 shares of the company’s stock valued at $281,000 after buying an additional 421 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. raised its stake in Lam Research Corp. by 38.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 3,604 shares of the company’s stock valued at $303,000 after buying an additional 1,010 shares in the last quarter.
Shares of Lam Research Corp. (NASDAQ:LRCX) traded up 1.42% during trading on Tuesday, reaching $99.45. 1,212,732 shares of the company were exchanged. The stock has a market capitalization of $15.94 billion, a PE ratio of 19.05 and a beta of 1.46. Lam Research Corp. has a one year low of $63.10 and a one year high of $102.44. The stock has a 50-day moving average price of $94.63 and a 200-day moving average price of $86.65.
Lam Research Corp. (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.64 by $0.16. The company earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Lam Research Corp. had a net margin of 15.53% and a return on equity of 18.95%. Lam Research Corp.’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.50 earnings per share. Analysts forecast that Lam Research Corp. will post $7.02 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 28th. Investors 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 annualized dividend and a yield of 1.22%. Lam Research Corp.’s dividend payout ratio is currently 22.99%.
Several research firms recently issued reports on LRCX. Royal Bank Of Canada reduced their price target on shares of Lam Research Corp. from $105.00 to $95.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. B. Riley reiterated a “buy” rating and set a $106.00 price target on shares of Lam Research Corp. in a research report on Thursday, July 28th. Nomura lowered shares of Lam Research Corp. from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $95.00 to $85.00 in a research report on Thursday, August 11th. Citigroup Inc. dropped their price objective on shares of Lam Research Corp. from $105.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, August 12th. Finally, Stifel Nicolaus increased their price objective on shares of Lam Research Corp. from $93.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $101.38.
In related news, insider Richard A. Gottscho sold 47,540 shares of the business’s stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $98.85, for a total transaction of $4,699,329.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.
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.
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