Municipal Employees Retirement System of Michigan increased its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 95.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,240 shares of the semiconductor company’s stock after buying an additional 4,990 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Lam Research Corporation were worth $1,449,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC increased its position in shares of Lam Research Corporation by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 1,332 shares of the semiconductor company’s stock valued at $168,000 after buying an additional 4 shares during the period. Keel Point LLC increased its stake in shares of Lam Research Corporation by 0.4% in the first quarter. Keel Point LLC now owns 2,303 shares of the semiconductor company’s stock valued at $296,000 after buying an additional 9 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Lam Research Corporation by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 22 shares during the last quarter. Cleararc Capital Inc. increased its stake in shares of Lam Research Corporation by 0.6% in the first quarter. Cleararc Capital Inc. now owns 3,998 shares of the semiconductor company’s stock valued at $513,000 after buying an additional 25 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Lam Research Corporation by 0.7% in the first quarter. Ameritas Investment Partners Inc. now owns 6,759 shares of the semiconductor company’s stock valued at $868,000 after buying an additional 50 shares during the last quarter. Institutional investors own 98.98% of the company’s stock.

Lam Research Corporation (NASDAQ LRCX) opened at 150.05 on Monday. The firm’s 50 day moving average price is $153.65 and its 200-day moving average price is $137.56. The company has a market capitalization of $24.27 billion, a PE ratio of 16.24 and a beta of 1.46. Lam Research Corporation has a one year low of $88.13 and a one year high of $170.00.

Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.09. Lam Research Corporation had a return on equity of 26.95% and a net margin of 21.19%. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the company earned $1.80 EPS. Lam Research Corporation’s revenue for the quarter was up 51.6% on a year-over-year basis. Equities analysts forecast that Lam Research Corporation will post $12.73 earnings per share for the current fiscal year.

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Several equities research analysts have recently issued reports on the stock. KeyCorp restated an “overweight” rating on shares of Lam Research Corporation in a research note on Thursday, July 27th. Cowen and Company restated an “outperform” rating and issued a $185.00 price objective (up previously from $150.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. Needham & Company LLC raised their price objective on shares of Lam Research Corporation from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. B. Riley restated a “buy” rating and issued a $220.00 price objective on shares of Lam Research Corporation in a research note on Thursday, July 27th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $215.00 price objective (up previously from $189.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $172.41.

In other news, SVP Sarah A. O’dowd sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $150.92, for a total transaction of $1,509,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen G. Newberry sold 1,500 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $162.75, for a total value of $244,125.00. The disclosure for this sale can be found here. Insiders sold 51,656 shares of company stock valued at $7,925,366 over the last quarter. 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.

Institutional Ownership by Quarter for Lam Research Corporation (NASDAQ:LRCX)

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