Dixon Hubard Feinour & Brown Inc. VA cut its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,820 shares of the semiconductor company’s stock after selling 1,250 shares during the period. Lam Research Corporation makes up about 1.9% of Dixon Hubard Feinour & Brown Inc. VA’s investment portfolio, making the stock its 14th largest position. Dixon Hubard Feinour & Brown Inc. VA’s holdings in Lam Research Corporation were worth $6,622,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. Soros Fund Management LLC acquired a new stake in shares of Lam Research Corporation during the first quarter worth $71,978,000. Vanguard Group Inc. increased its stake in shares of Lam Research Corporation by 3.1% in the first quarter. Vanguard Group Inc. now owns 15,750,128 shares of the semiconductor company’s stock worth $2,021,687,000 after buying an additional 471,405 shares during the last quarter. LSV Asset Management increased its stake in shares of Lam Research Corporation by 22.9% in the first quarter. LSV Asset Management now owns 2,408,170 shares of the semiconductor company’s stock worth $309,112,000 after buying an additional 449,402 shares during the last quarter. Janus Capital Management LLC increased its stake in shares of Lam Research Corporation by 13.7% in the first quarter. Janus Capital Management LLC now owns 3,608,710 shares of the semiconductor company’s stock worth $463,214,000 after buying an additional 433,555 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Lam Research Corporation by 64.4% in the first quarter. UBS Asset Management Americas Inc. now owns 892,879 shares of the semiconductor company’s stock worth $114,610,000 after buying an additional 349,635 shares during the last quarter. Institutional investors and hedge funds own 99.05% of the company’s stock.
Lam Research Corporation (LRCX) traded down 0.20% during trading on Monday, hitting $156.98. 1,658,409 shares of the company’s stock traded hands. The stock has a market cap of $25.32 billion, a P/E ratio of 19.94 and a beta of 1.45. The company’s 50 day moving average is $152.90 and its 200-day moving average is $129.51. Lam Research Corporation has a 12 month low of $87.63 and a 12 month high of $167.05.
Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings data on Tuesday, April 18th. The semiconductor company reported $2.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.55 by $0.25. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.13 billion. Lam Research Corporation had a net margin of 19.82% and a return on equity of 23.84%. The firm’s revenue for the quarter was up 63.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.18 earnings per share. On average, analysts predict that Lam Research Corporation will post $9.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 7th were given a $0.45 dividend. The ex-dividend date was Monday, June 5th. This represents a $1.80 annualized dividend and a yield of 1.15%. Lam Research Corporation’s payout ratio is presently 22.96%.
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LRCX has been the subject of a number of recent analyst reports. BidaskClub upgraded Lam Research Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research downgraded Lam Research Corporation from a “buy” rating to a “hold” rating in a report on Monday, March 27th. Citigroup Inc. reiterated a “buy” rating and set a $200.00 price target on shares of Lam Research Corporation in a report on Wednesday, May 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $145.00 price target (up from $140.00) on shares of Lam Research Corporation in a report on Tuesday, April 18th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Lam Research Corporation in a report on Friday, July 7th. Two research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $153.59.
In other news, Director Stephen G. Newberry sold 750 shares of the stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total value of $116,557.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Timothy Archer sold 8,942 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $155.51, for a total transaction of $1,390,570.42. The disclosure for this sale can be found here. Insiders sold 42,509 shares of company stock worth $6,453,898 over the last quarter. Insiders own 0.46% of the company’s stock.
About Lam Research Corporation
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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