Daiwa Securities Group Inc. cut its position in Lam Research Corporation (NASDAQ:LRCX) by 32.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,650 shares of the semiconductor company’s stock after selling 5,600 shares during the period. Daiwa Securities Group Inc.’s holdings in Lam Research Corporation were worth $1,648,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in LRCX. Harbour Capital Advisors LLC raised its stake in shares of Lam Research Corporation by 13,054.2% in the second quarter. Harbour Capital Advisors LLC now owns 1,890,919 shares of the semiconductor company’s stock worth $13,370,000 after buying an additional 1,876,544 shares in the last quarter. Soros Fund Management LLC purchased a new position in shares of Lam Research Corporation during the first quarter worth $71,978,000. Vanguard Group Inc. increased its position 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. Acadian Asset Management LLC increased its position in shares of Lam Research Corporation by 260.9% in the second quarter. Acadian Asset Management LLC now owns 626,623 shares of the semiconductor company’s stock worth $88,624,000 after buying an additional 452,972 shares during the last quarter. Finally, LSV Asset Management increased its position 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. 98.98% of the stock is currently owned by institutional investors and hedge funds.
Lam Research Corporation (NASDAQ LRCX) opened at 155.20 on Thursday. The stock has a 50 day moving average of $153.99 and a 200-day moving average of $138.99. The company has a market cap of $25.10 billion, a PE ratio of 16.80 and a beta of 1.46. Lam Research Corporation has a 12-month low of $88.51 and a 12-month high of $170.00.
Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.09. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.31 billion. Lam Research Corporation had a return on equity of 26.95% and a net margin of 21.19%. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter last year, the company posted $1.80 EPS. On average, equities research analysts anticipate that Lam Research Corporation will post $12.71 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given 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 dividend yield of 1.16%. Lam Research Corporation’s dividend payout ratio (DPR) is presently 19.57%.
A number of equities analysts recently weighed in on the stock. UBS AG restated a “buy” rating and set a $158.00 target price (up from $144.00) on shares of Lam Research Corporation in a report on Saturday, April 22nd. B. Riley restated a “buy” rating and set a $175.00 target price on shares of Lam Research Corporation in a report on Wednesday, April 19th. Deutsche Bank AG boosted their target price on shares of Lam Research Corporation from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, April 19th. Cowen and Company restated an “outperform” rating and set a $185.00 target price (up from $150.00) on shares of Lam Research Corporation in a report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Lam Research Corporation from a “conviction-buy” rating to a “buy” rating and boosted their target price for the stock from $153.00 to $160.00 in a report on Monday, May 8th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $172.41.
In other news, COO Timothy Archer sold 8,942 shares of Lam Research Corporation stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $155.51, for a total transaction of $1,390,570.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick J. Lord sold 2,770 shares of Lam Research Corporation stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $155.35, for a total value of $430,319.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,656 shares of company stock valued at $7,925,366. Corporate insiders own 0.46% of the company’s stock.
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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