Swiss National Bank raised its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 594,646 shares of the semiconductor company’s stock after buying an additional 17,700 shares during the period. Swiss National Bank owned 0.37% of Lam Research Corporation worth $84,101,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Signature Estate & Investment Advisors LLC increased its stake in Lam Research Corporation by 13.6% in the first quarter. Signature Estate & Investment Advisors LLC now owns 4,134 shares of the semiconductor company’s stock valued at $531,000 after buying an additional 495 shares during the last quarter. Pillar Pacific Capital Management LLC increased its stake in Lam Research Corporation by 22.9% in the first quarter. Pillar Pacific Capital Management LLC now owns 3,350 shares of the semiconductor company’s stock valued at $430,000 after buying an additional 625 shares during the last quarter. LSV Asset Management increased its stake in Lam Research Corporation by 22.9% in the first quarter. LSV Asset Management now owns 2,408,170 shares of the semiconductor company’s stock valued at $309,112,000 after buying an additional 449,402 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Lam Research Corporation by 5.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 532,043 shares of the semiconductor company’s stock valued at $68,293,000 after buying an additional 27,836 shares during the last quarter. Finally, State Treasurer State of Michigan increased its stake in Lam Research Corporation by 0.4% in the first quarter. State Treasurer State of Michigan now owns 53,460 shares of the semiconductor company’s stock valued at $6,862,000 after buying an additional 200 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Shares of Lam Research Corporation (NASDAQ LRCX) opened at 166.86 on Friday. The company has a market capitalization of $27.11 billion, a PE ratio of 18.06 and a beta of 1.47. Lam Research Corporation has a 52 week low of $89.80 and a 52 week high of $170.00. The company has a 50-day moving average price of $159.71 and a 200-day moving average price of $144.19.

Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, beating the 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 company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm posted $1.80 earnings per share. Lam Research Corporation’s revenue was up 51.6% compared to the same quarter last year. Analysts predict that Lam Research Corporation will post $12.71 earnings per share for the current year.

The firm also recently disclosed 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. The ex-dividend date is Tuesday, September 12th. This represents a $1.80 annualized dividend and a dividend yield of 1.08%. Lam Research Corporation’s dividend payout ratio (DPR) is presently 19.57%.

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Several analysts recently issued reports on the stock. B. Riley reissued a “buy” rating and issued a $220.00 price target on shares of Lam Research Corporation in a research report on Thursday, July 27th. Cowen and Company reaffirmed an “outperform” rating and set a $185.00 price objective (up from $150.00) on shares of Lam Research Corporation in a report on Thursday, July 27th. Needham & Company LLC lifted their price objective on shares of Lam Research Corporation from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. KeyCorp reaffirmed an “overweight” rating on shares of Lam Research Corporation in a report on Thursday, July 27th. Finally, ValuEngine downgraded shares of Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Lam Research Corporation currently has an average rating of “Buy” and a consensus price target of $175.18.

In related news, SVP Sarah A. O’dowd sold 10,000 shares of the 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Timothy Archer sold 8,942 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $155.51, for a total value of $1,390,570.42. The disclosure for this sale can be found here. Insiders have sold 31,609 shares of company stock worth $4,918,116 over the last ninety days. 0.46% of the stock is currently owned by insiders.

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.

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

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