Lam Research Corporation (LRCX) Holdings Lifted by Odey Asset Management Group Ltd
Odey Asset Management Group Ltd grew its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,657 shares of the semiconductor company’s stock after purchasing an additional 1,141 shares during the quarter. Lam Research Corporation comprises about 0.8% of Odey Asset Management Group Ltd’s portfolio, making the stock its 22nd biggest holding. Odey Asset Management Group Ltd’s holdings in Lam Research Corporation were worth $7,023,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of the business. UBS Asset Management Americas Inc. boosted its holdings in shares of Lam Research Corporation by 64.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 892,879 shares of the semiconductor company’s stock valued at $114,610,000 after buying an additional 349,635 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Lam Research Corporation by 15.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 5,135 shares of the semiconductor company’s stock valued at $659,000 after buying an additional 704 shares in the last quarter. Schroder Investment Management Group bought a new position in shares of Lam Research Corporation in the first quarter valued at $1,656,000. Cibc World Markets Corp grew its stake in shares of Lam Research Corporation by 49.2% in the first quarter. Cibc World Markets Corp now owns 17,871 shares of the semiconductor company’s stock valued at $2,294,000 after buying an additional 5,890 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in shares of Lam Research Corporation by 0.7% in the first quarter. Neuberger Berman Group LLC now owns 176,371 shares of the semiconductor company’s stock valued at $22,639,000 after buying an additional 1,225 shares in the last quarter. 93.96% of the stock is currently owned by hedge funds and other institutional investors.
Lam Research Corporation (NASDAQ LRCX) traded up 0.08% during mid-day trading on Monday, reaching $185.19. 1,135,107 shares of the company’s stock were exchanged. Lam Research Corporation has a 52-week low of $93.42 and a 52-week high of $187.57. The company has a 50-day moving average of $162.21 and a 200-day moving average of $148.80. The stock has a market cap of $30.08 billion, a price-to-earnings ratio of 20.04 and a beta of 1.52.
Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.09. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. Lam Research Corporation had a return on equity of 26.78% and a net margin of 21.19%. The firm’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.80 EPS. Equities research analysts anticipate that Lam Research Corporation will post $12.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.80 annualized dividend and a yield of 0.97%. Lam Research Corporation’s dividend payout ratio is currently 19.57%.
In other news, COO Timothy Archer sold 8,691 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $171.76, for a total value of $1,492,766.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $180.00, for a total transaction of $135,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 36,476 shares of company stock valued at $6,221,357 in the last ninety days. Insiders own 0.41% of the company’s stock.
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Several research firms have issued reports on LRCX. UBS AG reaffirmed a “buy” rating and set a $190.00 price target (up from $180.00) on shares of Lam Research Corporation in a research report on Monday, June 5th. Bank of America Corporation reiterated a “buy” rating and issued a $195.00 price target (up previously from $165.00) on shares of Lam Research Corporation in a research note on Sunday, June 11th. BidaskClub downgraded shares of Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Needham & Company LLC lifted their price objective on shares of Lam Research Corporation from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, June 16th. Finally, Stifel Nicolaus restated a “buy” rating and set a $189.00 price objective (up from $170.00) on shares of Lam Research Corporation in a research note on Monday, June 19th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Lam Research Corporation has an average rating of “Buy” and an average price target of $177.68.
Lam Research Corporation 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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