Lam Research Corp. (LRCX) Shares Bought by Oakbrook Investments LLC
Oakbrook Investments LLC raised its position in shares of Lam Research Corp. (NASDAQ:LRCX) by 5.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,950 shares of the company’s stock after buying an additional 500 shares during the period. Oakbrook Investments LLC’s holdings in Lam Research Corp. were worth $752,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Advisor Partners LLC acquired a new position in shares of Lam Research Corp. during the first quarter worth about $217,000. Blue Rock Advisors LLC purchased a new position in Lam Research Corp. during the first quarter worth $217,000. Marietta Investment Partners LLC purchased a new position in Lam Research Corp. during the first quarter worth $252,000. Acrospire Investment Management LLC purchased a new position in Lam Research Corp. during the first quarter worth $281,000. Finally, Private Trust Co. NA increased its position in Lam Research Corp. by 14.4% in the second quarter. Private Trust Co. NA now owns 3,353 shares of the company’s stock worth $281,000 after buying an additional 421 shares in the last quarter.
Lam Research Corp. (NASDAQ:LRCX) traded down 0.43% during midday trading on Friday, hitting $92.96. The stock had a trading volume of 2,091,036 shares. Lam Research Corp. has a 12-month low of $61.20 and a 12-month high of $95.77. The firm has a 50-day moving average of $92.14 and a 200-day moving average of $83.63. The company has a market cap of $14.90 billion, a PE ratio of 17.81 and a beta of 1.31.
Lam Research Corp. (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.16. The company earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Lam Research Corp. had a return on equity of 18.95% and a net margin of 15.53%. Lam Research Corp.’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.50 EPS. Equities research analysts forecast that Lam Research Corp. will post $6.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, September 12th. This represents a $1.20 annualized dividend and a yield of 1.29%. Lam Research Corp.’s dividend payout ratio (DPR) is currently 22.99%.
LRCX has been the topic of a number of recent research reports. B. Riley reissued a “buy” rating and issued a $96.00 target price on shares of Lam Research Corp. in a report on Monday, May 23rd. Nomura increased their target price on Lam Research Corp. from $85.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, June 23rd. Needham & Company LLC reissued a “buy” rating on shares of Lam Research Corp. in a report on Saturday, June 25th. Cowen and Company reissued an “outperform” rating and issued a $85.00 target price on shares of Lam Research Corp. in a report on Tuesday, July 12th. Finally, BlueFin Research raised Lam Research Corp. to a “positive” rating in a report on Monday, July 18th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $99.21.
About Lam Research Corp.
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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