Paradigm Asset Management Co. LLC Decreases Stake in Lam Research Corporation (LRCX)
Paradigm Asset Management Co. LLC lowered its stake in Lam Research Corporation (NASDAQ:LRCX) by 29.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,558 shares of the semiconductor company’s stock after selling 10,400 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Lam Research Corporation were worth $3,473,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc raised its position in shares of 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 during the last quarter. Stephens Inc. AR raised its position in shares of 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 during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Lam Research Corporation during the second quarter valued at about $134,000. Huntington National Bank raised its position in shares of 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 during the last quarter. Finally, Financial Architects Inc raised its position in shares of 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 during the last quarter. 98.98% of the stock is currently owned by institutional investors.
Shares of Lam Research Corporation (NASDAQ:LRCX) traded up 0.5098% during midday trading on Friday, reaching $159.6297. 203,871 shares of the company were exchanged. Lam Research Corporation has a 52-week low of $89.80 and a 52-week high of $170.00. The stock has a market capitalization of $25.93 billion, a price-to-earnings ratio of 17.2759 and a beta of 1.46. The company’s 50-day moving average price is $157.70 and its 200 day moving average price is $142.19.
Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.09. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.80 EPS. On average, equities analysts predict that Lam Research Corporation will post $12.71 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Tuesday, September 12th. Lam Research Corporation’s payout ratio is presently 19.57%.
Several equities analysts have issued reports on LRCX shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $189.00 price objective (up previously from $170.00) on shares of Lam Research Corporation in a report on Monday, June 19th. Needham & Company LLC raised their price objective on Lam Research Corporation from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, June 16th. BidaskClub lowered Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. UBS AG reaffirmed a “buy” rating and set a $190.00 price objective on shares of Lam Research Corporation in a report on Tuesday, June 13th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $195.00 target price (up previously from $165.00) on shares of Lam Research Corporation in a research note on Sunday, June 11th. 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 price target of $175.18.
In other Lam Research Corporation news, COO Timothy Archer sold 8,942 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $155.51, for a total value of $1,390,570.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Sarah A. O’dowd sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were 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 valued at $4,918,116 in the last 90 days. Corporate 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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