FIL Ltd Decreases Holdings in Lam Research Corporation (LRCX)
FIL Ltd lowered its position in Lam Research Corporation (NASDAQ:LRCX) by 73.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 346,332 shares of the semiconductor company’s stock after selling 943,407 shares during the period. FIL Ltd owned 0.21% of Lam Research Corporation worth $48,982,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in LRCX. UBS Asset Management Americas Inc. lifted its holdings in Lam Research Corporation by 64.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 892,879 shares of the semiconductor company’s stock valued at $114,610,000 after purchasing an additional 349,635 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in Lam Research Corporation in the 1st quarter valued at $1,918,000. Quantitative Investment Management LLC purchased a new position in Lam Research Corporation in the 1st quarter valued at $860,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Lam Research Corporation in the 1st quarter valued at $558,000. Finally, Ingalls & Snyder LLC purchased a new position in Lam Research Corporation in the 1st quarter valued at $232,000. Institutional investors own 93.96% of the company’s stock.
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In other Lam Research Corporation news, COO Timothy Archer sold 6,897 shares of the company’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total transaction of $1,106,968.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen G. Newberry sold 1,500 shares of the company’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 have sold 35,726 shares of company stock valued at $6,086,357 over the last 90 days. 0.46% of the stock is currently owned by insiders.
Lam Research Corporation (NASDAQ LRCX) opened at 176.73 on Friday. The firm has a market capitalization of $28.71 billion, a P/E ratio of 19.13 and a beta of 1.47. Lam Research Corporation has a 52-week low of $90.56 and a 52-week high of $178.18. The firm has a 50-day moving average price of $162.21 and a 200 day moving average price of $148.80.
Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.02 by $0.09. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.31 billion. Lam Research Corporation had a return on equity of 26.78% and a net margin of 21.19%. The firm’s revenue was up 51.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.80 earnings per share. Analysts forecast that Lam Research Corporation will post $12.75 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.80 annualized dividend and a yield of 1.02%. Lam Research Corporation’s dividend payout ratio is presently 19.57%.
LRCX has been the topic of a number of research reports. Stifel Nicolaus restated a “buy” rating and issued a $189.00 price objective (up previously from $170.00) on shares of Lam Research Corporation in a report on Monday, June 19th. Needham & Company LLC lifted their price target on Lam Research Corporation from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, June 16th. BidaskClub lowered Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. UBS AG reiterated a “buy” rating and set a $190.00 price target on shares of Lam Research Corporation in a report on Tuesday, June 13th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $195.00 price target (up previously from $165.00) on shares of Lam Research Corporation in a report on Sunday, June 11th. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $177.68.
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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