Baldwin Investment Management LLC Has $1.29 Million Position in Lam Research Corporation (LRCX)
Baldwin Investment Management LLC lowered its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,100 shares of the semiconductor company’s stock after selling 400 shares during the period. Lam Research Corporation makes up 0.5% of Baldwin Investment Management LLC’s holdings, making the stock its 27th largest position. Baldwin Investment Management LLC’s holdings in Lam Research Corporation were worth $1,287,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the stock. IFP Advisors Inc increased its position in Lam Research Corporation by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 22 shares during the period. Stephens Inc. AR increased its position in Lam Research Corporation by 6.8% in the first quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 54 shares during the period. BDO Wealth Advisors LLC bought a new position in Lam Research Corporation during the second quarter valued at about $118,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Lam Research Corporation during the second quarter valued at about $134,000. Finally, Huntington National Bank increased its position in Lam Research Corporation by 82.1% in the first quarter. Huntington National Bank now owns 1,118 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 504 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.
Shares of Lam Research Corporation (NASDAQ:LRCX) traded up 0.9736% during trading on Wednesday, hitting $163.9004. The stock had a trading volume of 304,991 shares. The firm has a market cap of $26.63 billion, a price-to-earnings ratio of 17.7381 and a beta of 1.46. The stock has a 50-day moving average of $158.09 and a 200 day moving average of $142.48. Lam Research Corporation has a 12-month low of $89.80 and a 12-month high of $170.00.
Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.09. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. Lam Research Corporation had a return on equity of 26.78% and a net margin of 21.19%. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.80 earnings per share. On average, analysts predict that Lam Research Corporation will post $12.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.11%. Lam Research Corporation’s payout ratio is presently 19.57%.
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Several research firms have recently issued reports on LRCX. Berenberg Bank restated a “buy” rating on shares of Lam Research Corporation in a report on Sunday, July 30th. Goldman Sachs Group, Inc. (The) downgraded shares of Lam Research Corporation from a “conviction-buy” rating to a “buy” rating and upped their price objective for the company from $153.00 to $160.00 in a report on Monday, May 8th. They noted that the move was a valuation call. B. Riley restated a “buy” rating and set a $220.00 price objective on shares of Lam Research Corporation in a report on Tuesday, August 15th. UBS AG restated a “buy” rating and set a $180.00 price objective (up previously from $158.00) on shares of Lam Research Corporation in a report on Wednesday, May 17th. Finally, Deutsche Bank AG upped their price objective on shares of Lam Research Corporation from $155.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, May 30th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $175.18.
In related news, SVP Sarah A. O’dowd sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $150.92, for a total transaction of $1,509,200.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $160.50, for a total value of $120,375.00. The disclosure for this sale can be found here. Insiders sold 31,609 shares of company stock worth $4,918,116 over the last quarter. 0.46% of the stock is currently owned by corporate insiders.
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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