Lam Research Corporation (LRCX) Holdings Raised by Profund Advisors LLC
Profund Advisors LLC boosted its position in Lam Research Corporation (NASDAQ:LRCX) by 13.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 45,594 shares of the semiconductor company’s stock after purchasing an additional 5,517 shares during the period. Profund Advisors LLC’s holdings in Lam Research Corporation were worth $6,448,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. grew its position in Lam Research Corporation by 5.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 560,705 shares of the semiconductor company’s stock worth $79,301,000 after purchasing an additional 28,662 shares in the last quarter. Main Street Research LLC grew its position in Lam Research Corporation by 3.6% in the 2nd quarter. Main Street Research LLC now owns 97,974 shares of the semiconductor company’s stock worth $13,856,000 after purchasing an additional 3,367 shares in the last quarter. Van ECK Associates Corp grew its position in Lam Research Corporation by 81.0% in the 1st quarter. Van ECK Associates Corp now owns 239,488 shares of the semiconductor company’s stock worth $30,741,000 after purchasing an additional 107,149 shares in the last quarter. Pacad Investment Ltd. grew its position in Lam Research Corporation by 252.5% in the 2nd quarter. Pacad Investment Ltd. now owns 36,369 shares of the semiconductor company’s stock worth $5,144,000 after purchasing an additional 26,052 shares in the last quarter. Finally, Highland Capital Management LLC bought a new stake in Lam Research Corporation in the 2nd quarter worth about $578,000. 94.10% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the stock. KeyCorp reaffirmed an “outperform” rating and issued a $202.00 price objective on shares of Lam Research Corporation in a research report on Saturday. Argus began coverage on shares of Lam Research Corporation in a research report on Tuesday. They set a “buy” rating and a $196.00 target price for the company. Cowen and Company reissued an “outperform” rating and set a $185.00 target price (up from $150.00) on shares of Lam Research Corporation in a research report on Thursday, July 27th. Needham & Company LLC increased their target price on shares of Lam Research Corporation from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, B. Riley reissued a “buy” rating and set a $220.00 target price on shares of Lam Research Corporation in a research report on Thursday, July 27th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Lam Research Corporation has a consensus rating of “Buy” and a consensus price target of $177.68.
Shares of Lam Research Corporation (LRCX) traded up 0.24% during trading on Friday, hitting $172.99. 2,691,091 shares of the stock were exchanged. Lam Research Corporation has a 52-week low of $90.56 and a 52-week high of $174.37. The firm has a 50 day moving average of $161.26 and a 200-day moving average of $147.54. The stock has a market cap of $28.10 billion, a PE ratio of 18.72 and a beta of 1.47.
Lam Research Corporation (NASDAQ:LRCX) last issued 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. 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 the consensus estimate of $2.31 billion. During the same quarter in the previous year, the firm earned $1.80 earnings per share. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. Equities research analysts anticipate that Lam Research Corporation will post $12.75 earnings per share for the current fiscal year.
The company also recently declared 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 annualized dividend and a yield of 1.04%. The ex-dividend date is Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio is currently 19.57%.
In other news, COO Timothy Archer sold 6,897 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $160.50, for a total value of $1,106,968.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Sarah A. O’dowd sold 10,000 shares of the business’s 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 have sold 29,338 shares of company stock worth $4,717,492 in the last ninety days. Insiders own 0.46% of the company’s stock.
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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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