Wedge Capital Management L L P NC lowered its position in Lam Research Corporation (NASDAQ:LRCX) by 15.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 307,340 shares of the semiconductor company’s stock after selling 56,830 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.19% of Lam Research Corporation worth $56,870,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Wetherby Asset Management Inc. lifted its stake in 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 acquiring an additional 12 shares during the last quarter. Fiduciary Trust Co. lifted its stake in Lam Research Corporation by 1.0% in the second quarter. Fiduciary Trust Co. now owns 2,044 shares of the semiconductor company’s stock valued at $289,000 after acquiring an additional 20 shares during the last quarter. Smithfield Trust Co. lifted its stake in 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 acquiring an additional 22 shares during the last quarter. Hanseatic Management Services Inc. lifted its stake in Lam Research Corporation by 1.0% in the second quarter. Hanseatic Management Services Inc. now owns 2,242 shares of the semiconductor company’s stock valued at $317,000 after acquiring an additional 22 shares during the last quarter. Finally, ETRADE Capital Management LLC lifted its stake in Lam Research Corporation by 0.5% in the second quarter. ETRADE Capital Management LLC now owns 5,833 shares of the semiconductor company’s stock valued at $825,000 after acquiring an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 94.72% of the company’s stock.

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In related news, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $195.09, for a total value of $146,317.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Timothy Archer sold 11,590 shares of Lam Research Corporation stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $181.76, for a total value of $2,106,598.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,419 shares of company stock valued at $7,167,497. 0.41% of the stock is currently owned by company insiders.

Shares of Lam Research Corporation (NASDAQ LRCX) traded up $4.15 during trading on Friday, reaching $207.07. 1,875,067 shares of the company’s stock were exchanged, compared to its average volume of 2,250,000. The firm has a market capitalization of $33.53 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 0.96 and a beta of 1.63. Lam Research Corporation has a 12-month low of $93.69 and a 12-month high of $210.45. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.31 and a quick ratio of 2.83.

Lam Research Corporation (NASDAQ:LRCX) last released its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, beating 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 return on equity of 30.19% and a net margin of 22.85%. Lam Research Corporation’s revenue was up 51.8% compared to the same quarter last year. During the same period last year, the business posted $1.81 earnings per share. research analysts forecast that Lam Research Corporation will post 14.45 earnings per share for the current year.

Several equities analysts have recently weighed in on LRCX shares. BidaskClub raised shares of Lam Research Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Morgan Stanley reissued an “overweight” rating and issued a $176.00 price objective on shares of Lam Research Corporation in a research report on Monday, August 14th. Vetr lowered shares of Lam Research Corporation from a “buy” rating to a “hold” rating and set a $196.77 price objective on the stock. in a research report on Monday, October 16th. DA Davidson reissued a “buy” rating and issued a $215.00 price objective on shares of Lam Research Corporation in a research report on Thursday, October 12th. Finally, Citigroup Inc increased their price objective on shares of Lam Research Corporation from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, October 18th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $209.32.

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

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