Ingalls & Snyder LLC Has $241,000 Position in Lam Research Corporation (LRCX)
Ingalls & Snyder LLC lowered its stake in Lam Research Corporation (NASDAQ:LRCX) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,705 shares of the semiconductor company’s stock after selling 100 shares during the period. Ingalls & Snyder LLC’s holdings in Lam Research Corporation were worth $241,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Atria Investments LLC bought a new stake in shares of Lam Research Corporation during the first quarter valued at $203,000. BKD Wealth Advisors LLC boosted its stake in shares of Lam Research Corporation by 7.9% in the first quarter. BKD Wealth Advisors LLC now owns 3,046 shares of the semiconductor company’s stock valued at $391,000 after buying an additional 224 shares during the last quarter. Alpha Windward LLC boosted its stake in Lam Research Corporation by 1,075.3% in the first quarter. Alpha Windward LLC now owns 4,525 shares of the semiconductor company’s stock valued at $581,000 after buying an additional 4,140 shares in the last quarter. Private Trust Co. NA boosted its stake in Lam Research Corporation by 11.1% in the first quarter. Private Trust Co. NA now owns 3,245 shares of the semiconductor company’s stock valued at $416,000 after buying an additional 323 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its stake in Lam Research Corporation by 1.7% in the first quarter. Capstone Asset Management Co. now owns 23,215 shares of the semiconductor company’s stock valued at $2,980,000 after buying an additional 380 shares in the last quarter. Institutional investors and hedge funds own 98.98% of the company’s stock.
Lam Research Corporation (NASDAQ LRCX) traded up 1.28% on Friday, reaching $160.49. The company’s stock had a trading volume of 1,924,780 shares. The company has a market capitalization of $26.07 billion, a PE ratio of 17.37 and a beta of 1.46. Lam Research Corporation has a one year low of $89.80 and a one year high of $170.00. The firm has a 50-day moving average of $155.93 and a 200-day moving average of $140.94.
Lam Research Corporation (NASDAQ:LRCX) last announced 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. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the business earned $1.80 EPS. The company’s revenue was up 51.6% on a year-over-year basis. Analysts predict that Lam Research Corporation will post $12.71 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.12%. Lam Research Corporation’s payout ratio is 19.57%.
LRCX has been the topic of a number of recent research reports. BidaskClub upgraded Lam Research Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Morgan Stanley reiterated an “overweight” rating and set a $176.00 price target on shares of Lam Research Corporation in a report on Monday, August 14th. Citigroup Inc. restated a “buy” rating and issued a $200.00 target price on shares of Lam Research Corporation in a research note on Wednesday, May 17th. UBS AG restated a “buy” rating and issued a $158.00 target price (up from $144.00) on shares of Lam Research Corporation in a research note on Saturday, April 22nd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $189.00 target price (up from $170.00) on shares of Lam Research Corporation in a research note on Monday, June 19th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Lam Research Corporation presently has an average rating of “Buy” and a consensus target price of $175.18.
In related news, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total transaction of $116,557.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Sarah A. O’dowd sold 10,000 shares of Lam Research Corporation stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $150.92, for a total transaction of $1,509,200.00. The disclosure for this sale can be found here. Insiders sold a total of 31,609 shares of company stock worth $4,918,116 over the last 90 days. Company insiders own 0.46% of the company’s stock.
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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