Lam Research Corporation (LRCX) Stake Cut by Global X Management Co. LLC
Global X Management Co. LLC decreased its stake in Lam Research Corporation (NASDAQ:LRCX) by 22.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,128 shares of the semiconductor company’s stock after selling 627 shares during the period. Global X Management Co. LLC’s holdings in Lam Research Corporation were worth $301,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of LRCX. Stephens Inc. AR boosted its stake in Lam Research Corporation by 6.8% in the first quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 54 shares in the last quarter. IFP Advisors Inc boosted its stake in 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 in the last quarter. Huntington National Bank boosted its stake in Lam Research Corporation by 82.1% in the first quarter. Huntington National Bank now owns 1,118 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 504 shares in the last quarter. Financial Architects Inc boosted its stake in Lam Research Corporation by 1,164.8% in the second quarter. Financial Architects Inc now owns 1,366 shares of the semiconductor company’s stock valued at $193,000 after buying an additional 1,258 shares in the last quarter. Finally, Atria Investments LLC purchased a new stake in Lam Research Corporation during the first quarter valued at $203,000. 98.98% of the stock is owned by institutional investors and hedge funds.
Lam Research Corporation (NASDAQ:LRCX) opened at 160.49 on Monday. The firm’s 50-day moving average price is $155.93 and its 200 day moving average price is $140.94. The company has a market capitalization of $26.07 billion, a PE ratio of 17.37 and a beta of 1.46. Lam Research Corporation has a 52 week low of $89.80 and a 52 week high of $170.00.
Lam Research Corporation (NASDAQ:LRCX) last released its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.09. Lam Research Corporation had a return on equity of 26.78% and a net margin of 21.19%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the firm posted $1.80 earnings per share. The company’s quarterly revenue was up 51.6% on a year-over-year basis. Equities research analysts expect 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 issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, September 12th. Lam Research Corporation’s payout ratio is currently 19.57%.
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A number of research analysts have recently commented on the stock. UBS AG reissued a “buy” rating and issued a $190.00 target price on shares of Lam Research Corporation in a report on Tuesday, June 13th. B. Riley reissued a “buy” rating and issued a $220.00 target price on shares of Lam Research Corporation in a report on Thursday, July 27th. Royal Bank Of Canada reissued an “outperform” rating and issued a $185.00 target price (up previously from $145.00) on shares of Lam Research Corporation in a report on Thursday, July 27th. BidaskClub cut shares of Lam Research Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Needham & Company LLC increased their target price on shares of Lam Research Corporation from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $175.18.
In other news, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $155.41, for a total transaction of $116,557.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Timothy Archer sold 8,942 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $155.51, for a total value of $1,390,570.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,609 shares of company stock worth $4,918,116. 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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