Lam Research Corporation (LRCX) Holdings Lifted by Epoch Investment Partners Inc.
Epoch Investment Partners Inc. raised its stake in Lam Research Corporation (NASDAQ:LRCX) by 35.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,108 shares of the semiconductor company’s stock after buying an additional 16,828 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Lam Research Corporation were worth $9,067,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of LRCX. Harbour Capital Advisors LLC lifted its position in Lam Research Corporation by 13,054.2% in the second quarter. Harbour Capital Advisors LLC now owns 1,890,919 shares of the semiconductor company’s stock valued at $13,370,000 after buying an additional 1,876,544 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its position in Lam Research Corporation by 1,696.5% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 878,960 shares of the semiconductor company’s stock valued at $124,311,000 after buying an additional 830,034 shares during the last quarter. GQG Partners LLC acquired a new position in Lam Research Corporation in the second quarter valued at about $87,726,000. Soros Fund Management LLC acquired a new position in Lam Research Corporation in the first quarter valued at about $71,978,000. Finally, Vanguard Group Inc. lifted its position in Lam Research Corporation by 3.1% in the first quarter. Vanguard Group Inc. now owns 15,750,128 shares of the semiconductor company’s stock valued at $2,021,687,000 after buying an additional 471,405 shares during the last quarter. 93.96% of the stock is currently owned by institutional investors.
A number of research firms have commented on LRCX. UBS AG reaffirmed a “buy” rating and issued a $190.00 target price (up previously from $180.00) on shares of Lam Research Corporation in a research report on Monday, June 5th. Cowen and Company reissued 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. B. Riley reissued a “buy” rating and set a $220.00 price target on shares of Lam Research Corporation in a research report on Thursday, July 27th. Argus assumed coverage on shares of Lam Research Corporation in a research report on Tuesday, September 12th. They set a “buy” rating and a $196.00 price target on the stock. Finally, BidaskClub raised shares of Lam Research Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $177.68.
In other news, COO Timothy Archer sold 8,691 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $171.76, for a total value of $1,492,766.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total value of $116,557.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,726 shares of company stock worth $6,086,357. 0.46% of the stock is currently owned by corporate insiders.
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Lam Research Corporation (LRCX) opened at 179.39 on Thursday. The stock has a market capitalization of $29.14 billion, a price-to-earnings ratio of 19.41 and a beta of 1.47. Lam Research Corporation has a 52 week low of $90.56 and a 52 week high of $180.62. The firm has a 50-day moving average of $162.21 and a 200 day moving average of $148.80.
Lam Research Corporation (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the company posted $1.80 EPS. Lam Research Corporation’s quarterly revenue was up 51.6% on a year-over-year basis. On average, analysts anticipate that Lam Research Corporation will post $12.75 EPS for the current year.
The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Tuesday, September 12th. Lam Research Corporation’s payout ratio is 19.57%.
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.
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