GAM Holding AG Reduces Stake in Lam Research Corporation (LRCX)
GAM Holding AG decreased its position in Lam Research Corporation (NASDAQ:LRCX) by 12.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 11,601 shares of the semiconductor company’s stock after selling 1,688 shares during the period. GAM Holding AG’s holdings in Lam Research Corporation were worth $1,641,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc boosted its stake in Lam Research Corporation by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock worth $109,000 after buying an additional 22 shares during the last quarter. Stephens Inc. AR boosted its stake in Lam Research Corporation by 6.8% in the first quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock worth $109,000 after buying an additional 54 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Lam Research Corporation during the second quarter worth $134,000. Huntington National Bank boosted its stake 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 worth $144,000 after buying an additional 504 shares during the last quarter. Finally, Financial Architects Inc boosted its stake in Lam Research Corporation by 1,164.8% in the second quarter. Financial Architects Inc now owns 1,366 shares of the semiconductor company’s stock worth $193,000 after buying an additional 1,258 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lam Research Corporation (LRCX) opened at 162.32 on Wednesday. The company has a market capitalization of $26.37 billion, a P/E ratio of 17.57 and a beta of 1.46. The stock’s 50 day moving average is $158.09 and its 200 day moving average is $142.48. Lam Research Corporation has a 52-week low of $89.80 and a 52-week 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 earnings per share for the quarter, beating 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 26.78%. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the firm earned $1.80 earnings per share. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. Equities analysts expect that Lam Research Corporation will post $12.71 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio is currently 19.57%.
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A number of analysts have weighed in on LRCX shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $189.00 target price (up previously from $170.00) on shares of Lam Research Corporation in a research note on Monday, June 19th. Needham & Company LLC lifted their price target on shares of Lam Research Corporation from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, June 16th. BidaskClub lowered shares of Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. UBS AG reiterated a “buy” rating and set a $190.00 price target on shares of Lam Research Corporation in a report on Tuesday, June 13th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $195.00 price target (up previously from $165.00) on shares of Lam Research Corporation in a report on Sunday, June 11th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $175.18.
In other Lam Research Corporation news, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total transaction of $116,557.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Insiders have sold 31,609 shares of company stock worth $4,918,116 in the last ninety days. Insiders own 0.46% of the company’s stock.
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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