PHH Investments Ltd. lowered its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 2.9% during the second quarter, Holdings Channel reports. The institutional investor owned 5,314 shares of the semiconductor company’s stock after selling 156 shares during the period. PHH Investments Ltd.’s holdings in Lam Research Corporation were worth $752,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LRCX. Keel Point LLC boosted its position in Lam Research Corporation by 0.4% in the first quarter. Keel Point LLC now owns 2,303 shares of the semiconductor company’s stock worth $296,000 after buying an additional 9 shares during the last quarter. Wetherby Asset Management Inc. boosted its position in Lam Research Corporation by 0.7% in the second quarter. Wetherby Asset Management Inc. now owns 1,789 shares of the semiconductor company’s stock worth $253,000 after buying an additional 12 shares during the last quarter. IFP Advisors Inc boosted its position in Lam Research Corporation by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock worth $109,000 after buying an additional 22 shares during the last quarter. Smithfield Trust Co. boosted its position in Lam Research Corporation by 0.9% in the second quarter. Smithfield Trust Co. now owns 2,382 shares of the semiconductor company’s stock worth $337,000 after buying an additional 22 shares during the last quarter. Finally, Cleararc Capital Inc. boosted its position in Lam Research Corporation by 0.6% in the first quarter. Cleararc Capital Inc. now owns 3,998 shares of the semiconductor company’s stock worth $513,000 after buying an additional 25 shares during the last quarter. 98.98% of the stock is owned by institutional investors and hedge funds.

Shares of Lam Research Corporation (NASDAQ LRCX) opened at 160.21 on Wednesday. Lam Research Corporation has a 12 month low of $89.50 and a 12 month high of $170.00. The stock’s 50 day moving average price is $154.58 and its 200-day moving average price is $140.33. The company has a market cap of $25.91 billion, a P/E ratio of 17.34 and a beta of 1.46.

Lam Research Corporation (NASDAQ:LRCX) last released its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.09. Lam Research Corporation had a return on equity of 26.95% and a net margin of 21.19%. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the business posted $1.80 earnings per share. The firm’s revenue was up 51.6% on a year-over-year basis. Equities research analysts expect that Lam Research Corporation will post $12.71 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio is currently 19.57%.

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A number of equities analysts recently issued reports on LRCX shares. UBS AG reiterated a “buy” rating and issued a $180.00 target price (up from $158.00) on shares of Lam Research Corporation in a report on Wednesday, May 17th. Deutsche Bank AG increased their target price on Lam Research Corporation from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, April 19th. B. Riley reiterated a “buy” rating and issued a $175.00 target price on shares of Lam Research Corporation in a report on Wednesday, April 19th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $185.00 target price (up from $150.00) on shares of Lam Research Corporation in a report on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $175.18.

In related news, insider Patrick J. Lord sold 2,770 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $155.35, for a total transaction of $430,319.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen G. Newberry sold 750 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total value of $120,375.00. The disclosure for this sale can be found here. Insiders have sold 51,656 shares of company stock valued at $7,925,366 in the last quarter. 0.46% of the stock is currently owned by company insiders.

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

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