Lam Research Corp. (LRCX) Shares Sold by Exxonmobil Investment Management Inc. TX
Exxonmobil Investment Management Inc. TX decreased its stake in Lam Research Corp. (NASDAQ:LRCX) by 0.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 40,920 shares of the company’s stock after selling 392 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Lam Research Corp. were worth $3,876,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of LRCX. Vanguard Group Inc. boosted its position in shares of Lam Research Corp. by 1.3% in the second quarter. Vanguard Group Inc. now owns 14,385,832 shares of the company’s stock worth $1,209,274,000 after buying an additional 187,529 shares in the last quarter. FMR LLC boosted its position in shares of Lam Research Corp. by 149.5% in the second quarter. FMR LLC now owns 10,317,149 shares of the company’s stock worth $867,259,000 after buying an additional 6,182,540 shares in the last quarter. State Street Corp boosted its position in shares of Lam Research Corp. by 0.3% in the second quarter. State Street Corp now owns 6,393,084 shares of the company’s stock worth $537,391,000 after buying an additional 19,142 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Lam Research Corp. by 4.5% in the second quarter. BlackRock Fund Advisors now owns 2,916,817 shares of the company’s stock worth $245,188,000 after buying an additional 126,883 shares in the last quarter. Finally, Janus Capital Management LLC boosted its position in shares of Lam Research Corp. by 40.8% in the second quarter. Janus Capital Management LLC now owns 2,103,641 shares of the company’s stock worth $176,832,000 after buying an additional 609,780 shares in the last quarter.
Lam Research Corp. (NASDAQ:LRCX) traded down 0.72% during trading on Monday, reaching $106.77. 2,046,280 shares of the company’s stock traded hands. The firm’s 50 day moving average is $99.47 and its 200 day moving average is $90.52. The company has a market cap of $17.39 billion, a P/E ratio of 21.19 and a beta of 1.49. Lam Research Corp. has a 12 month low of $63.10 and a 12 month high of $108.04.
Lam Research Corp. (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 19th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the Zacks’ 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 period in the prior year, the business earned $1.82 earnings per share. Lam Research Corp.’s quarterly revenue was up 2.0% on a year-over-year basis. Analysts anticipate that Lam Research Corp. will post $8.28 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be issued a $0.45 dividend. This is a positive change from Lam Research Corp.’s previous quarterly dividend of $0.30. This represents a $1.80 annualized dividend and a yield of 1.68%. The ex-dividend date is Monday, December 12th. Lam Research Corp.’s dividend payout ratio is currently 23.86%.
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A number of equities analysts have issued reports on the stock. B. Riley reissued a “buy” rating and issued a $106.00 target price on shares of Lam Research Corp. in a report on Tuesday, August 2nd. Nomura cut shares of Lam Research Corp. from a “buy” rating to a “neutral” rating and cut their target price for the stock from $95.00 to $85.00 in a report on Thursday, August 11th. Citigroup Inc. cut their target price on shares of Lam Research Corp. from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, August 12th. Cowen and Company reissued an “outperform” rating and issued a $95.00 target price on shares of Lam Research Corp. in a report on Saturday, August 13th. Finally, Susquehanna reaffirmed a “neutral” rating on shares of Lam Research Corp. in a report on Saturday, August 13th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Lam Research Corp. currently has a consensus rating of “Buy” and an average price target of $106.35.
In other Lam Research Corp. news, insider Richard A. Gottscho sold 47,540 shares of the company’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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Douglas R. Bettinger sold 9,956 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The shares were sold at an average price of $106.88, for a total transaction of $1,064,097.28. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by corporate insiders.
Lam Research Corp. 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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