Lam Research Corporation (LRCX) Shares Sold by Rhumbline Advisers
Rhumbline Advisers lowered its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 2.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 316,871 shares of the semiconductor company’s stock after selling 7,139 shares during the period. Rhumbline Advisers owned 0.20% of Lam Research Corporation worth $58,634,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of LRCX. Vanguard Group Inc. lifted its position in Lam Research Corporation by 2.6% during the second quarter. Vanguard Group Inc. now owns 16,162,079 shares of the semiconductor company’s stock worth $2,285,802,000 after acquiring an additional 411,951 shares during the last quarter. Janus Henderson Group PLC lifted its position in Lam Research Corporation by 23,238.8% during the second quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock worth $670,756,000 after acquiring an additional 4,722,348 shares during the last quarter. American Century Companies Inc. raised its position in shares of Lam Research Corporation by 7.8% in the second quarter. American Century Companies Inc. now owns 1,950,620 shares of the semiconductor company’s stock valued at $275,876,000 after buying an additional 141,444 shares in the last quarter. Harbour Capital Advisors LLC raised 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 buying an additional 1,876,544 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of Lam Research Corporation by 9.5% in the second quarter. UBS Asset Management Americas Inc. now owns 977,791 shares of the semiconductor company’s stock valued at $138,289,000 after buying an additional 84,912 shares in the last quarter. Institutional investors and hedge funds own 93.05% of the company’s stock.
In other news, COO Timothy Archer sold 8,691 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $171.76, for a total transaction of $1,492,766.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $195.09, for a total transaction of $146,317.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,419 shares of company stock worth $7,167,497. 0.41% of the stock is owned by company insiders.
LRCX has been the subject of a number of analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $176.00 price target on shares of Lam Research Corporation in a research report on Monday, August 14th. Vetr downgraded shares of Lam Research Corporation from a “buy” rating to a “hold” rating and set a $196.77 price target for the company. in a research report on Monday, October 16th. DA Davidson reiterated a “buy” rating and issued a $215.00 price target on shares of Lam Research Corporation in a research report on Thursday, October 12th. Citigroup Inc. lifted their price target on shares of Lam Research Corporation from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, October 18th. Finally, KeyCorp reiterated a “buy” rating and issued a $225.00 price target (up from $202.00) on shares of Lam Research Corporation in a research report on Wednesday, October 18th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Lam Research Corporation presently has an average rating of “Buy” and a consensus price target of $210.04.
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Lam Research Corporation (LRCX) traded down $0.59 during mid-day trading on Wednesday, reaching $208.64. 1,004,800 shares of the company traded hands, compared to its average volume of 2,080,346. The firm has a market capitalization of $33,884.00, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 0.98 and a beta of 1.63. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24. Lam Research Corporation has a 1-year low of $97.79 and a 1-year high of $211.41.
Lam Research Corporation (NASDAQ:LRCX) last released its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.19. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.19%. Lam Research Corporation’s revenue for the quarter was up 51.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.81 earnings per share. equities analysts anticipate that Lam Research Corporation will post 14.45 earnings per share for the current year.
Lam Research Corporation announced that its board has authorized a share buyback program on Tuesday, November 14th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 6th will be issued a $0.50 dividend. This is a positive change from Lam Research Corporation’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 0.96%. Lam Research Corporation’s payout ratio is presently 16.45%.
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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