Eqis Capital Management Inc. lowered its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 6.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,571 shares of the semiconductor company’s stock after selling 763 shares during the quarter. Eqis Capital Management Inc.’s holdings in Lam Research Corporation were worth $2,141,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in LRCX. Janus Henderson Group PLC raised its position in shares of Lam Research Corporation by 23,238.8% during the second quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock worth $670,756,000 after acquiring an additional 4,722,348 shares during the last quarter. Harbour Capital Advisors LLC raised its position in shares of Lam Research Corporation by 13,054.2% during the second quarter. Harbour Capital Advisors LLC now owns 1,890,919 shares of the semiconductor company’s stock worth $13,370,000 after acquiring an additional 1,876,544 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its holdings in 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 during the last quarter. GQG Partners LLC bought a new stake in Lam Research Corporation in the second quarter valued at about $87,726,000. Finally, Soros Fund Management LLC bought a new stake in Lam Research Corporation in the first quarter valued at about $71,978,000. Institutional investors own 94.17% of the company’s stock.
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A number of equities research analysts recently commented on LRCX shares. B. Riley reiterated a “buy” rating and issued a $220.00 price objective on shares of Lam Research Corporation in a report on Thursday, July 27th. DA Davidson reiterated a “buy” rating and issued a $175.00 price objective on shares of Lam Research Corporation in a report on Wednesday, July 26th. BidaskClub upgraded Lam Research Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Stifel Nicolaus reissued a “buy” rating and issued a $215.00 target price (up from $189.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. Finally, Needham & Company LLC increased their price target on Lam Research Corporation from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $209.32.
Shares of Lam Research Corporation (NASDAQ LRCX) traded up 0.59% on Friday, reaching $208.00. The company had a trading volume of 1,984,702 shares. The company’s 50-day moving average is $182.92 and its 200-day moving average is $160.30. Lam Research Corporation has a one year low of $93.69 and a one year high of $208.41. The company has a market capitalization of $33.73 billion, a PE ratio of 18.99 and a beta of 1.53.
Lam Research Corporation (NASDAQ:LRCX) last issued its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.27 by $0.19. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.19%. The company had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the company posted $1.81 earnings per share. The firm’s quarterly revenue was up 51.8% on a year-over-year basis. Equities research analysts predict that Lam Research Corporation will post $14.60 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.87%. The ex-dividend date was Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio is currently 16.45%.
In other news, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction on Monday, September 11th. The shares were sold at an average price of $170.00, for a total transaction of $127,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Timothy Archer sold 8,691 shares of Lam Research Corporation stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $171.76, for a total transaction of $1,492,766.16. The disclosure for this sale can be found here. Insiders have sold a total of 40,419 shares of company stock worth $7,167,497 in the last quarter. Corporate insiders own 0.41% 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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