ClariVest Asset Management LLC lowered its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 4.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 262,079 shares of the semiconductor company’s stock after selling 11,454 shares during the quarter. Lam Research Corporation comprises 1.1% of ClariVest Asset Management LLC’s portfolio, making the stock its 16th largest holding. ClariVest Asset Management LLC owned approximately 0.16% of Lam Research Corporation worth $48,494,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Wetherby Asset Management Inc. boosted its position in shares of Lam Research Corporation by 0.7% in the second quarter. Wetherby Asset Management Inc. now owns 1,789 shares of the semiconductor company’s stock valued at $253,000 after acquiring an additional 12 shares during the period. Fiduciary Trust Co. boosted its position in shares of Lam Research Corporation by 1.0% in the second quarter. Fiduciary Trust Co. now owns 2,044 shares of the semiconductor company’s stock valued at $289,000 after acquiring an additional 20 shares during the period. Smithfield Trust Co. boosted its position in shares of Lam Research Corporation by 0.9% in the second quarter. Smithfield Trust Co. now owns 2,382 shares of the semiconductor company’s stock valued at $337,000 after acquiring an additional 22 shares during the period. Hanseatic Management Services Inc. boosted its position in shares of Lam Research Corporation by 1.0% in the second quarter. Hanseatic Management Services Inc. now owns 2,242 shares of the semiconductor company’s stock valued at $317,000 after acquiring an additional 22 shares during the period. Finally, ETRADE Capital Management LLC boosted its position in shares of Lam Research Corporation by 0.5% in the second quarter. ETRADE Capital Management LLC now owns 5,833 shares of the semiconductor company’s stock valued at $825,000 after acquiring an additional 28 shares during the period. 93.05% of the stock is owned by hedge funds and other institutional investors.

Shares of Lam Research Corporation (NASDAQ:LRCX) traded up $5.36 on Friday, reaching $213.22. The company’s stock had a trading volume of 2,259,400 shares, compared to its average volume of 2,081,593. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.83 and a current ratio of 3.31. Lam Research Corporation has a 12-month low of $97.79 and a 12-month high of $214.72. The company has a market capitalization of $34,190.00, a PE ratio of 17.90, a P/E/G ratio of 0.97 and a beta of 1.63.

Lam Research Corporation (NASDAQ:LRCX) last issued its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.27 by $0.19. Lam Research Corporation had a return on equity of 30.19% and a net margin of 22.85%. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the business earned $1.81 earnings per share. The company’s revenue was up 51.8% compared to the same quarter last year. equities analysts expect that Lam Research Corporation will post 14.45 earnings per share for the current fiscal year.

Lam Research Corporation announced that its Board of Directors has initiated a share buyback plan on Tuesday, November 14th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a yield of 0.94%. This is a boost from Lam Research Corporation’s previous quarterly dividend of $0.45. Lam Research Corporation’s dividend payout ratio (DPR) is 16.44%.

Several equities research analysts have recently weighed in on LRCX shares. DA Davidson reissued a “buy” rating and issued a $175.00 price objective on shares of Lam Research Corporation in a research report on Wednesday, July 26th. B. Riley reissued a “buy” rating and issued a $220.00 price objective on shares of Lam Research Corporation in a research report on Thursday, July 27th. Cowen and Company reaffirmed an “outperform” rating and issued a $185.00 target price (up from $150.00) on shares of Lam Research Corporation in a research report on Thursday, July 27th. Needham & Company LLC raised their target price on Lam Research Corporation from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, KeyCorp reaffirmed an “overweight” rating 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 assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $212.89.

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In related news, COO Timothy Archer sold 11,590 shares of Lam Research Corporation stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $181.76, for a total value of $2,106,598.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $170.00, for a total value of $127,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,419 shares of company stock worth $7,167,497. Company insiders own 0.41% of the company’s stock.

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

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