Eagle Asset Management Inc. trimmed its position in Lam Research Co. (NASDAQ:LRCX) by 3.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,734 shares of the semiconductor company’s stock after selling 732 shares during the quarter. Eagle Asset Management Inc.’s holdings in Lam Research were worth $3,411,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of LRCX. LSV Asset Management grew its stake in Lam Research by 6.3% during the 1st quarter. LSV Asset Management now owns 2,447,745 shares of the semiconductor company’s stock worth $497,283,000 after buying an additional 144,655 shares during the last quarter. PointState Capital LP bought a new position in Lam Research during the 1st quarter worth $377,895,000. Swedbank grew its stake in Lam Research by 64.3% during the 2nd quarter. Swedbank now owns 1,795,483 shares of the semiconductor company’s stock worth $310,349,000 after buying an additional 702,660 shares during the last quarter. Franklin Resources Inc. grew its stake in Lam Research by 3.7% during the 1st quarter. Franklin Resources Inc. now owns 1,214,594 shares of the semiconductor company’s stock worth $246,758,000 after buying an additional 43,205 shares during the last quarter. Finally, Millennium Management LLC grew its stake in Lam Research by 80.5% during the 1st quarter. Millennium Management LLC now owns 1,158,373 shares of the semiconductor company’s stock worth $235,335,000 after buying an additional 516,453 shares during the last quarter. Institutional investors and hedge funds own 86.22% of the company’s stock.

Shares of LRCX stock opened at $172.46 on Friday. The company has a quick ratio of 2.31, a current ratio of 2.90 and a debt-to-equity ratio of 0.27. Lam Research Co. has a 1 year low of $156.52 and a 1 year high of $234.88. The firm has a market cap of $27.48 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42.

Lam Research (NASDAQ:LRCX) last announced its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $5.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.94 by $0.37. Lam Research had a return on equity of 47.14% and a net margin of 21.49%. The company had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the firm posted $3.11 EPS. The firm’s quarterly revenue was up 33.3% on a year-over-year basis. equities analysts expect that Lam Research Co. will post 15.51 EPS for the current year.

A number of brokerages recently commented on LRCX. Stifel Nicolaus lowered their price objective on Lam Research from $295.00 to $279.00 and set a “buy” rating for the company in a research note on Friday, July 27th. Citigroup lowered their price objective on Lam Research from $239.00 to $216.00 and set a “buy” rating for the company in a research note on Monday, July 30th. BidaskClub upgraded Lam Research from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. ValuEngine downgraded Lam Research from a “hold” rating to a “sell” rating in a research note on Saturday, August 18th. Finally, JPMorgan Chase & Co. lowered their price objective on Lam Research from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Lam Research has an average rating of “Buy” and an average target price of $249.80.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers thin film deposition products, including SABRE electrochemical deposition products for copper damascene manufacturing; ALTUS systems to deposit conformal atomic layer films for tungsten metallization applications; VECTOR plasma-enhanced chemical vapor deposition (CVD) and atomic layer deposition systems to deposit oxides, nitrides, and carbides for hardmasks, multiple patterning films, anti-reflective layers, multi-layer stack films, and diffusion barriers; and Striker atomic layer deposition systems that deliver conformal dielectric films for spacer-based patterning and liner applications in various advanced memory and logic structures.

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

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