Foundry Partners LLC Decreases Holdings in Lam Research Corporation (LRCX)
Foundry Partners LLC reduced its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 8.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 84,050 shares of the semiconductor company’s stock after selling 7,925 shares during the quarter. Foundry Partners LLC owned about 0.05% of Lam Research Corporation worth $15,553,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LRCX. Achmea Investment Management B.V. bought a new position in Lam Research Corporation during the 1st quarter valued at $3,370,000. Teachers Retirement System of The State of Kentucky boosted its stake in Lam Research Corporation by 286.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 76,360 shares of the semiconductor company’s stock valued at $9,802,000 after purchasing an additional 56,600 shares in the last quarter. Ibex Wealth Advisors boosted its stake in shares of Lam Research Corporation by 5.5% during the 1st quarter. Ibex Wealth Advisors now owns 9,429 shares of the semiconductor company’s stock worth $1,205,000 after acquiring an additional 493 shares in the last quarter. CCM Investment Advisers LLC boosted its stake in shares of Lam Research Corporation by 5.5% during the 1st quarter. CCM Investment Advisers LLC now owns 88,764 shares of the semiconductor company’s stock worth $11,393,000 after acquiring an additional 4,654 shares in the last quarter. Finally, Ballentine Partners LLC bought a new stake in shares of Lam Research Corporation during the 1st quarter worth $420,000. 94.72% of the stock is owned by hedge funds and other institutional investors.
Lam Research Corporation (NASDAQ:LRCX) last announced its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.27 by $0.19. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.46 billion. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.19%. The company’s revenue for the quarter was up 51.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.81 EPS.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Tuesday, September 12th. Lam Research Corporation’s payout ratio is presently 16.45%.
In other Lam Research Corporation news, COO Timothy Archer sold 15,638 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $175.65, for a total transaction of $2,746,814.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $170.00, for a total transaction of $127,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,419 shares of company stock valued at $7,167,497. Company insiders own 0.41% of the company’s stock.
Several research firms have recently weighed in on LRCX. Berenberg Bank reissued a “buy” rating on shares of Lam Research Corporation in a research note on Sunday, July 30th. Zacks Investment Research raised Lam Research Corporation from a “sell” rating to a “hold” rating and set a $221.00 price objective for the company in a research note on Friday, October 13th. Argus began coverage on Lam Research Corporation in a research note on Tuesday, September 12th. They set a “buy” rating and a $196.00 price objective for the company. B. Riley reissued a “buy” rating and set a $220.00 price objective on shares of Lam Research Corporation in a research note on Tuesday, August 15th. Finally, Needham & Company LLC reissued a “buy” rating and set a $220.00 price objective (up from $200.00) on shares of Lam Research Corporation in a research note on Friday, October 13th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Lam Research Corporation presently has a consensus rating of “Buy” and a consensus price target of $209.32.
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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