KBC Group NV Acquires 41,273 Shares of Lam Research Corporation (LRCX)
KBC Group NV raised its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 106.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,939 shares of the semiconductor company’s stock after buying an additional 41,273 shares during the period. KBC Group NV’s holdings in Lam Research Corporation were worth $11,306,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. IFP Advisors Inc raised 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 valued at $109,000 after buying an additional 22 shares in the last quarter. Stephens Inc. AR raised its position in Lam Research Corporation by 6.8% in the first quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 54 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Lam Research Corporation during the second quarter valued at approximately $134,000. Huntington National Bank raised its position in Lam Research Corporation by 82.1% in the first quarter. Huntington National Bank now owns 1,118 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 504 shares in the last quarter. Finally, Financial Architects Inc raised its position in Lam Research Corporation by 1,164.8% in the second quarter. Financial Architects Inc now owns 1,366 shares of the semiconductor company’s stock valued at $193,000 after buying an additional 1,258 shares in the last quarter. Hedge funds and other institutional investors own 98.98% of the company’s stock.
Shares of Lam Research Corporation (NASDAQ:LRCX) opened at 160.49 on Monday. The firm has a market capitalization of $26.07 billion, a P/E 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 issued its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.02 by $0.09. Lam Research Corporation had a return on equity of 26.78% and a net margin of 21.19%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the business earned $1.80 earnings per share. The company’s revenue was up 51.6% compared to the same quarter last year. On average, equities analysts predict that Lam Research Corporation will post $12.71 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio (DPR) is currently 19.57%.
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Several equities analysts have recently commented on the stock. UBS AG restated a “buy” rating and set a $190.00 price target (up previously from $180.00) on shares of Lam Research Corporation in a research report on Monday, June 5th. B. Riley restated a “buy” rating and set a $175.00 price target on shares of Lam Research Corporation in a research report on Monday, April 24th. Cowen and Company restated an “outperform” rating and set a $185.00 price target (up previously from $150.00) on shares of Lam Research Corporation in a research report on Thursday, July 27th. Needham & Company LLC upped their price target on shares of Lam Research Corporation from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, June 16th. Finally, Goldman Sachs Group, Inc. (The) lowered shares of Lam Research Corporation from a “conviction-buy” rating to a “buy” rating and upped their price target for the stock from $153.00 to $160.00 in a research report on Monday, May 8th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $175.18.
In other Lam Research Corporation news, Director Stephen G. Newberry sold 1,500 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $162.75, for a total transaction of $244,125.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Sarah A. O’dowd sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $150.92, for a total value of $1,509,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,609 shares of company stock worth $4,918,116. Company insiders own 0.46% 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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