First Trust Advisors LP increased its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 1.6% during the second quarter, Holdings Channel reports. The fund owned 749,276 shares of the semiconductor company’s stock after buying an additional 12,001 shares during the period. First Trust Advisors LP’s holdings in Lam Research Corporation were worth $105,970,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Quadrant Capital Group LLC boosted its position in shares of Lam Research Corporation by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 1,332 shares of the semiconductor company’s stock valued at $168,000 after buying an additional 4 shares during the last quarter. Keel Point LLC boosted its position in shares of Lam Research Corporation by 0.4% in the first quarter. Keel Point LLC now owns 2,303 shares of the semiconductor company’s stock valued at $296,000 after buying an additional 9 shares during the last quarter. 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 buying an additional 12 shares during the last quarter. IFP Advisors Inc boosted its position in shares of 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 last quarter. Finally, 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 buying an additional 22 shares during the last quarter. Institutional investors and hedge funds own 98.98% of the company’s stock.

Lam Research Corporation (NASDAQ:LRCX) opened at 149.44 on Friday. The firm has a market cap of $24.17 billion, a price-to-earnings ratio of 16.17 and a beta of 1.46. The stock has a 50 day moving average price of $153.95 and a 200-day moving average price of $139.07. Lam Research Corporation has a 12-month low of $88.51 and a 12-month high of $170.00.

Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share 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 analysts’ expectations of $2.31 billion. Lam Research Corporation had a return on equity of 26.95% and a net margin of 21.19%. The business’s quarterly revenue was up 51.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.80 EPS. Equities analysts forecast that Lam Research Corporation will post $12.71 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Tuesday, September 12th. Lam Research Corporation’s payout ratio is 19.57%.

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Several equities analysts have recently issued reports on the company. UBS AG reiterated a “buy” rating and issued a $158.00 price objective (up previously from $144.00) on shares of Lam Research Corporation in a research note on Saturday, April 22nd. B. Riley reiterated a “buy” rating and issued a $175.00 price objective on shares of Lam Research Corporation in a research note on Wednesday, April 19th. Deutsche Bank AG lifted their price objective on Lam Research Corporation from $135.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Cowen and Company reiterated an “outperform” rating and issued a $185.00 price objective (up previously from $150.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) cut Lam Research Corporation from a “conviction-buy” rating to a “buy” rating and lifted their price objective for the company from $153.00 to $160.00 in a research note on Monday, May 8th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $172.41.

In related news, insider Patrick J. Lord sold 2,770 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $155.35, for a total value of $430,319.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen G. Newberry sold 20,047 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $150.01, for a total value of $3,007,250.47. 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 over the last quarter. Insiders own 0.46% of the company’s stock.

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

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