Comerica Securities Inc. trimmed its position in Lam Research Corporation (NASDAQ:LRCX) by 2.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,061 shares of the semiconductor company’s stock after selling 240 shares during the period. Comerica Securities Inc.’s holdings in Lam Research Corporation were worth $1,140,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Lam Research Corporation by 5.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 560,705 shares of the semiconductor company’s stock valued at $79,301,000 after purchasing an additional 28,662 shares in the last quarter. Main Street Research LLC lifted its holdings in shares of Lam Research Corporation by 3.6% in the second quarter. Main Street Research LLC now owns 97,974 shares of the semiconductor company’s stock valued at $13,856,000 after purchasing an additional 3,367 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Lam Research Corporation by 81.0% in the first quarter. Van ECK Associates Corp now owns 239,488 shares of the semiconductor company’s stock valued at $30,741,000 after purchasing an additional 107,149 shares in the last quarter. Highland Capital Management LLC bought a new stake in shares of Lam Research Corporation in the second quarter valued at about $578,000. Finally, Soros Fund Management LLC bought a new stake in shares of Lam Research Corporation in the first quarter valued at about $71,978,000. Institutional investors own 94.10% of the company’s stock.

A number of brokerages have recently commented on LRCX. Argus began coverage on Lam Research Corporation in a report on Tuesday. They issued a “buy” rating and a $196.00 price target on the stock. Cowen and Company restated an “outperform” rating and issued a $185.00 price target (up from $150.00) on shares of Lam Research Corporation in a report on Thursday, July 27th. B. Riley reiterated a “buy” rating and set a $220.00 target price on shares of Lam Research Corporation in a report on Thursday, July 27th. Needham & Company LLC upped their target price on Lam Research Corporation from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, KeyCorp reiterated an “overweight” rating on shares of Lam Research Corporation in a report on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Lam Research Corporation has an average rating of “Buy” and a consensus target price of $176.33.

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In related news, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $170.00, for a total value of $127,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Timothy Archer sold 6,897 shares of Lam Research Corporation stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total transaction of $1,106,968.50. The disclosure for this sale can be found here. Insiders sold a total of 29,338 shares of company stock worth $4,717,492 in the last ninety days. 0.46% of the stock is currently owned by insiders.

Lam Research Corporation (NASDAQ LRCX) traded up 0.35% during trading on Friday, hitting $173.18. The stock had a trading volume of 427,355 shares. The firm has a 50 day moving average price of $161.02 and a 200-day moving average price of $147.16. The firm has a market capitalization of $28.13 billion, a PE ratio of 18.74 and a beta of 1.47. Lam Research Corporation has a 1-year low of $90.56 and a 1-year high of $174.37.

Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly 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. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. Lam Research Corporation’s revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.80 EPS. On average, equities research analysts expect that Lam Research Corporation will post $12.75 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be issued a $0.45 dividend. 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 1.04%. Lam Research Corporation’s dividend payout ratio (DPR) is presently 19.57%.

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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