BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 6.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,035 shares of the semiconductor company’s stock after selling 10,445 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Lam Research Corporation were worth $20,512,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Main Street Research LLC raised its stake in Lam Research Corporation by 3.6% in the second quarter. Main Street Research LLC now owns 97,974 shares of the semiconductor company’s stock valued at $13,856,000 after buying an additional 3,367 shares during the last quarter. Van ECK Associates Corp raised its stake in Lam Research Corporation by 81.0% in the first quarter. Van ECK Associates Corp now owns 239,488 shares of the semiconductor company’s stock valued at $30,741,000 after buying an additional 107,149 shares during the last quarter. Highland Capital Management LLC bought a new stake in Lam Research Corporation during the second quarter valued at about $578,000. Soros Fund Management LLC bought a new stake in Lam Research Corporation during the first quarter valued at about $71,978,000. Finally, Rafferty Asset Management LLC raised its stake in Lam Research Corporation by 21.9% in the first quarter. Rafferty Asset Management LLC now owns 46,035 shares of the semiconductor company’s stock valued at $5,909,000 after buying an additional 8,255 shares during the last quarter. 98.98% of the stock is owned by institutional investors.

Lam Research Corporation (LRCX) opened at 158.55 on Tuesday. The stock has a market capitalization of $25.64 billion, a P/E ratio of 17.16 and a beta of 1.46. The firm’s 50-day moving average price is $154.26 and its 200 day moving average price is $140.02. Lam Research Corporation has a 12-month low of $89.50 and a 12-month high of $170.00.

Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, topping the consensus estimate of $3.02 by $0.09. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.95%. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the company earned $1.80 EPS. Lam Research Corporation’s revenue was up 51.6% on a year-over-year basis. On average, equities analysts anticipate that Lam Research Corporation will post $12.71 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Tuesday, September 12th. Lam Research Corporation’s payout ratio is 19.57%.

TRADEMARK VIOLATION NOTICE: “BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Reduces Position in Lam Research Corporation (LRCX)” was first posted by Watch List News and is owned by of Watch List News. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international copyright laws. The original version of this article can be viewed at https://www.watchlistnews.com/british-columbia-investment-management-corp-reduces-position-in-lam-research-corporation-lrcx/1490291.html.

Several equities research analysts have recently issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $176.00 price objective on shares of Lam Research Corporation in a research note on Monday. B. Riley reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Lam Research Corporation in a research note on Thursday, August 10th. ValuEngine raised Lam Research Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 3rd. Citigroup Inc. lowered Lam Research Corporation from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $200.00 to $175.00 in a research note on Thursday, August 3rd. Finally, BidaskClub lowered Lam Research Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $175.18.

In related news, COO Timothy Archer sold 8,942 shares of Lam Research Corporation stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $155.51, for a total transaction of $1,390,570.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Sarah A. O’dowd sold 10,000 shares of Lam Research Corporation stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $150.92, for a total transaction of $1,509,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 51,656 shares of company stock worth $7,925,366 in the last three months. 0.46% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Corporation (NASDAQ:LRCX).

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

Receive News & Ratings for Lam Research Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.