People s United Financial Inc. raised its position in Lam Research Corporation (NASDAQ:LRCX) by 36.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,095 shares of the semiconductor company’s stock after buying an additional 8,285 shares during the period. People s United Financial Inc.’s holdings in Lam Research Corporation were worth $4,398,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC grew its position in shares of 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 purchasing an additional 1,876,544 shares during the period. Old Mutual Global Investors UK Ltd. grew its position in shares of 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 purchasing an additional 830,034 shares during the period. GQG Partners LLC acquired a new stake in shares of Lam Research Corporation in the second quarter valued at about $87,726,000. Soros Fund Management LLC acquired a new stake in shares of Lam Research Corporation in the first quarter valued at about $71,978,000. Finally, Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 471,405 shares during the period. 93.96% of the stock is owned by institutional investors.

Several analysts have recently issued reports on the stock. KeyCorp reiterated an “outperform” rating and issued a $202.00 target price on shares of Lam Research Corporation in a research report on Saturday, September 16th. Zacks Investment Research lowered shares of Lam Research Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Argus assumed coverage on shares of Lam Research Corporation in a research report on Tuesday, September 12th. They issued a “buy” rating and a $196.00 target price on the stock. Needham & Company LLC lifted 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, Cowen and Company reiterated an “outperform” rating and issued a $185.00 target price (up previously from $150.00) on shares of Lam Research Corporation in a research report on Thursday, July 27th. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $177.68.

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Shares of Lam Research Corporation (NASDAQ LRCX) traded up 1.77% during trading on Friday, reaching $185.04. 1,789,347 shares of the company’s stock were exchanged. Lam Research Corporation has a 52 week low of $90.56 and a 52 week high of $185.23. The stock has a market capitalization of $30.06 billion, a price-to-earnings ratio of 20.03 and a beta of 1.47. The stock has a 50 day moving average price of $162.21 and a 200-day moving average price of $148.80.

Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 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 company earned $1.80 EPS. The firm’s revenue for the quarter was up 51.6% compared to the same quarter last year. Analysts predict that Lam Research Corporation will post $12.75 earnings per share for the current 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 paid 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 0.97%. Lam Research Corporation’s dividend payout ratio is currently 19.57%.

In other Lam Research Corporation news, Director Stephen G. Newberry sold 1,500 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $162.75, for a total transaction of $244,125.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Timothy Archer sold 6,897 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total transaction of $1,106,968.50. The disclosure for this sale can be found here. Insiders have sold a total of 36,476 shares of company stock worth $6,221,357 over the last ninety days. 0.46% of the stock is owned by corporate 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.

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

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