Peregrine Asset Advisers Inc. Has $551,000 Stake in Lam Research Corporation (LRCX)
Peregrine Asset Advisers Inc. lifted its position in Lam Research Corporation (NASDAQ:LRCX) by 29.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,893 shares of the semiconductor company’s stock after purchasing an additional 893 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Lam Research Corporation were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of Lam Research Corporation in the second quarter worth $254,000. BDO Wealth Advisors LLC purchased a new position in Lam Research Corporation during the second quarter valued at $118,000. Stephens Inc. AR grew its stake in Lam Research Corporation by 6.8% during the first quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 54 shares in the last quarter. IFP Advisors Inc grew its stake in Lam Research Corporation by 2.7% during the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 22 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Lam Research Corporation during the second quarter valued at $134,000. 94.10% of the stock is owned by hedge funds and other institutional investors.
Lam Research Corporation (NASDAQ:LRCX) traded up 0.3022% during midday trading on Tuesday, hitting $170.0223. 418,117 shares of the stock traded hands. The stock has a 50-day moving average of $160.21 and a 200 day moving average of $146.24. The firm has a market cap of $27.62 billion, a PE ratio of 18.4007 and a beta of 1.47. Lam Research Corporation has a 52-week low of $90.56 and a 52-week high of $170.84.
Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings results 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 for 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 revenue was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.80 EPS. Equities analysts forecast that Lam Research Corporation will post $12.73 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.80 annualized dividend and a dividend yield of 1.06%. Lam Research Corporation’s payout ratio is 19.57%.
In other news, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is available at this hyperlink. Also, insider Patrick J. Lord sold 2,770 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $155.35, for a total transaction of $430,319.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,667 shares of company stock worth $3,527,546. Corporate insiders own 0.46% of the company’s stock.
Several equities analysts recently weighed in on LRCX shares. DA Davidson reaffirmed a “buy” rating and set a $175.00 target price on shares of Lam Research Corporation in a research note on Wednesday, July 26th. Credit Suisse Group reaffirmed a “buy” rating on shares of Lam Research Corporation in a research note on Tuesday, August 29th. BidaskClub cut shares of Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $189.00 target price (up from $170.00) on shares of Lam Research Corporation in a research note on Monday, June 19th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Lam Research Corporation in a research note on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Lam Research Corporation currently has an average rating of “Buy” and an average price target of $176.33.
Lam Research Corporation 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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