Zacks Investment Management cut its position in shares of Lam Research Corp. (NASDAQ:LRCX) by 9.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 119,267 shares of the company’s stock after selling 11,967 shares during the period. Zacks Investment Management owned 0.07% of Lam Research Corp. worth $10,026,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Exxonmobil Investment Management Inc. TX boosted its stake in Lam Research Corp. by 6.8% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 41,312 shares of the company’s stock worth $3,473,000 after buying an additional 2,625 shares during the period. DNB Asset Management AS boosted its stake in Lam Research Corp. by 3.0% in the second quarter. DNB Asset Management AS now owns 13,937 shares of the company’s stock worth $1,172,000 after buying an additional 400 shares during the period. BlueMountain Capital Management LLC boosted its stake in Lam Research Corp. by 525.8% in the first quarter. BlueMountain Capital Management LLC now owns 8,117 shares of the company’s stock worth $670,000 after buying an additional 6,820 shares during the period. First Republic Investment Management Inc. boosted its stake in Lam Research Corp. by 0.6% in the first quarter. First Republic Investment Management Inc. now owns 114,024 shares of the company’s stock worth $9,418,000 after buying an additional 662 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in Lam Research Corp. by 35.9% in the first quarter. Squarepoint Ops LLC now owns 16,052 shares of the company’s stock worth $1,326,000 after buying an additional 4,240 shares during the period.

Institutional Ownership by Quarter for Lam Research Corp. (NASDAQ:LRCX)

Shares of Lam Research Corp. (NASDAQ:LRCX) traded up 1.58% on Friday, hitting $97.49. The company had a trading volume of 1,693,294 shares. Lam Research Corp. has a 12 month low of $63.10 and a 12 month high of $102.44. The company has a 50-day moving average of $96.86 and a 200 day moving average of $88.68. The stock has a market cap of $15.87 billion, a PE ratio of 19.35 and a beta of 1.49.

Lam Research Corp. (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.78 by $0.03. Lam Research Corp. had a net margin of 15.02% and a return on equity of 18.43%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the business earned $1.82 earnings per share. Lam Research Corp.’s revenue was up 2.0% compared to the same quarter last year. Analysts anticipate that Lam Research Corp. will post $7.69 EPS for the current fiscal year.

A number of analysts have recently commented on LRCX shares. RBC Capital Markets reiterated an “outperform” rating and set a $105.00 target price on shares of Lam Research Corp. in a research report on Sunday, October 9th. Zacks Investment Research upgraded Lam Research Corp. from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Tuesday, September 27th. Needham & Company LLC reiterated a “buy” rating and set a $120.00 target price (up previously from $115.00) on shares of Lam Research Corp. in a research report on Monday, October 17th. Goldman Sachs Group Inc. started coverage on Lam Research Corp. in a research report on Tuesday, October 25th. They issued a “neutral” rating and a $104.00 price target on the stock. Finally, Cowen and Company restated an “outperform” rating and issued a $95.00 price target on shares of Lam Research Corp. in a research report on Wednesday, August 31st. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Lam Research Corp. has an average rating of “Buy” and a consensus target price of $105.29.

In other Lam Research Corp. news, insider Richard A. Gottscho sold 47,540 shares of the firm’s stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $98.85, for a total value of $4,699,329.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is currently owned by company insiders.

About Lam Research Corp.

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.

5 Day Chart for NASDAQ:LRCX

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