Lam Research Corporation (LRCX) is Horizon Investment Services LLC’s 2nd Largest Position
Horizon Investment Services LLC lessened its stake in Lam Research Corporation (NASDAQ:LRCX) by 5.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,388 shares of the semiconductor company’s stock after selling 3,067 shares during the quarter. Lam Research Corporation comprises about 3.6% of Horizon Investment Services LLC’s holdings, making the stock its 2nd largest holding. Horizon Investment Services LLC’s holdings in Lam Research Corporation were worth $8,117,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of LRCX. Raymond James Financial Services Advisors Inc. boosted its stake in Lam Research Corporation by 15.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,135 shares of the semiconductor company’s stock worth $659,000 after buying an additional 704 shares during the last quarter. Schroder Investment Management Group purchased a new stake in Lam Research Corporation in the 1st quarter valued at $1,656,000. Cibc World Markets Corp grew its holdings in Lam Research Corporation by 49.2% in the 1st quarter. Cibc World Markets Corp now owns 17,871 shares of the semiconductor company’s stock valued at $2,294,000 after buying an additional 5,890 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in Lam Research Corporation by 0.7% in the 1st quarter. Neuberger Berman Group LLC now owns 176,371 shares of the semiconductor company’s stock valued at $22,639,000 after buying an additional 1,225 shares in the last quarter. Finally, Comerica Securities Inc. purchased a new stake in Lam Research Corporation in the 1st quarter valued at $1,066,000. 93.96% of the stock is owned by hedge funds and other institutional investors.
Shares of Lam Research Corporation (LRCX) traded down 0.12% during mid-day trading on Wednesday, reaching $184.64. 771,062 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $169.12 and a 200 day moving average price of $152.90. Lam Research Corporation has a 52 week low of $93.69 and a 52 week high of $187.57. The stock has a market cap of $30.00 billion, a price-to-earnings ratio of 19.98 and a beta of 1.53.
Lam Research Corporation (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, topping 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 business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the company posted $1.80 EPS. The business’s quarterly revenue was up 51.6% on a year-over-year basis. Equities research analysts predict that Lam Research Corporation will post $12.75 EPS 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 given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio (DPR) is presently 19.57%.
A number of analysts have issued reports on LRCX shares. UBS AG reaffirmed a “buy” rating and issued a $190.00 target price on shares of Lam Research Corporation in a research note on Tuesday, June 13th. 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. Zacks Investment Research cut shares of Lam Research Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Royal Bank Of Canada reissued an “outperform” rating and issued a $185.00 price objective (up previously from $145.00) on shares of Lam Research Corporation in a report on Thursday, July 27th. Finally, BidaskClub lowered shares of Lam Research Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $177.68.
In other news, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $185.00, for a total value of $138,750.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Timothy Archer sold 6,897 shares of Lam Research Corporation stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $160.50, for a total value of $1,106,968.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,816 shares of company stock valued at $8,466,705. 0.41% of the stock is owned by company insiders.
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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