GRATRY & Co LLC bought a new position in Lam Research Corporation (NASDAQ:LRCX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,340 shares of the semiconductor company’s stock, valued at approximately $472,000.
A number of other large investors have also recently added to or reduced their stakes in LRCX. Janus Henderson Group PLC increased its position in Lam Research Corporation by 23,238.8% in the second quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock worth $670,756,000 after buying an additional 4,722,348 shares during the last quarter. Harbour Capital Advisors LLC increased its position in 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 during the last quarter. Old Mutual Global Investors UK Ltd. grew its position in shares of Lam Research Corporation by 1,696.5% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 878,960 shares of the semiconductor company’s stock valued at $124,311,000 after purchasing an additional 830,034 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Lam Research Corporation in the second quarter valued at $87,726,000. Finally, Soros Fund Management LLC purchased a new position in shares of Lam Research Corporation in the first quarter valued at $71,978,000. 93.96% of the stock is owned by institutional investors and hedge funds.
Lam Research Corporation (LRCX) traded up 1.415% during midday trading on Friday, reaching $189.635. The company had a trading volume of 663,413 shares. The company has a market capitalization of $30.81 billion, a price-to-earnings ratio of 20.523 and a beta of 1.53. Lam Research Corporation has a 52 week low of $93.69 and a 52 week high of $190.31. The firm has a 50-day moving average price of $173.95 and a 200-day moving average price of $155.48.
Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share 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 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 business’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.80 earnings per share. Analysts expect that Lam Research Corporation will post $12.78 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.96%. Lam Research Corporation’s payout ratio is 19.57%.
In other news, COO Timothy Archer sold 6,897 shares of the firm’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 accessible through this hyperlink. Also, Director Stephen G. Newberry sold 1,500 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were 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. In the last 90 days, insiders have sold 48,066 shares of company stock valued at $8,350,148. Company insiders own 0.41% of the company’s stock.
Several equities analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price target (up from $200.00) on shares of Lam Research Corporation in a research report on Friday. DA Davidson reiterated a “buy” rating and issued a $215.00 price target on shares of Lam Research Corporation in a research report on Thursday. Zacks Investment Research cut Lam Research Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. KeyCorp reiterated an “outperform” rating and issued a $202.00 price target on shares of Lam Research Corporation in a research report on Saturday, September 16th. Finally, Argus assumed coverage on Lam Research Corporation in a research report on Tuesday, September 12th. They issued a “buy” rating and a $196.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have assigned a buy rating to the company. Lam Research Corporation has a consensus rating of “Buy” and a consensus price target of $182.94.
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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