Lam Research Corporation (LRCX) Shares Bought by Americafirst Capital Management LLC
Americafirst Capital Management LLC lifted its stake in Lam Research Corporation (NASDAQ:LRCX) by 21.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,336 shares of the semiconductor company’s stock after acquiring an additional 583 shares during the period. Americafirst Capital Management LLC’s holdings in Lam Research Corporation were worth $472,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in LRCX. Municipal Employees Retirement System of Michigan grew its stake in shares of Lam Research Corporation by 2.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 5,250 shares of the semiconductor company’s stock worth $674,000 after acquiring an additional 150 shares during the last quarter. Clark Capital Management Group Inc. lifted its position in Lam Research Corporation by 13.9% in the first quarter. Clark Capital Management Group Inc. now owns 119,319 shares of the semiconductor company’s stock worth $15,316,000 after purchasing an additional 14,531 shares during the period. Stephens Investment Management Group LLC lifted its position in Lam Research Corporation by 3.5% in the first quarter. Stephens Investment Management Group LLC now owns 24,333 shares of the semiconductor company’s stock worth $3,123,000 after purchasing an additional 812 shares during the period. Marietta Investment Partners LLC lifted its position in Lam Research Corporation by 370.8% in the first quarter. Marietta Investment Partners LLC now owns 54,619 shares of the semiconductor company’s stock worth $7,011,000 after purchasing an additional 43,018 shares during the period. Finally, Global Financial Private Capital LLC bought a new position in Lam Research Corporation in the first quarter worth $2,293,000. Institutional investors and hedge funds own 93.96% of the company’s stock.
Several research analysts recently commented on LRCX shares. B. Riley reaffirmed a “buy” rating and issued a $220.00 target price on shares of Lam Research Corporation in a research report on Thursday, July 27th. DA Davidson reaffirmed a “buy” rating and issued a $175.00 target price on shares of Lam Research Corporation in a research report on Wednesday, July 26th. BidaskClub raised Lam Research Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Stifel Nicolaus reissued a “buy” rating and set a $189.00 price objective (up from $170.00) on shares of Lam Research Corporation in a report on Monday, June 19th. Finally, Needham & Company LLC lifted their price objective on Lam Research Corporation from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, June 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have issued a buy rating to the company’s stock. Lam Research Corporation has an average rating of “Buy” and an average price target of $182.94.
In other news, Director Stephen G. Newberry sold 750 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $185.00, for a total transaction of $138,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $1,106,968.50. The disclosure for this sale can be found here. Insiders sold 48,066 shares of company stock valued at $8,350,148 over the last quarter. Corporate insiders own 0.41% of the company’s stock.
Lam Research Corporation (LRCX) traded up 1.28% on Friday, hitting $189.38. The company had a trading volume of 313,245 shares. Lam Research Corporation has a 12-month low of $93.69 and a 12-month high of $190.30. The firm has a market capitalization of $30.77 billion, a PE ratio of 20.50 and a beta of 1.53. The firm has a 50-day moving average price of $173.95 and a 200-day moving average price of $155.48.
Lam Research Corporation (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, beating the consensus estimate of $3.02 by $0.09. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.31 billion. Lam Research Corporation had a return on equity of 26.78% and a net margin of 21.19%. The business’s quarterly revenue was up 51.6% on a year-over-year basis. During the same period last year, the company earned $1.80 earnings per share. On average, equities research analysts anticipate that Lam Research Corporation will post $12.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th were given a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $1.80 annualized dividend and a yield of 0.96%. Lam Research Corporation’s dividend payout ratio is presently 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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