Lam Research Corporation (LRCX) Shares Bought by Carret Asset Management LLC
Carret Asset Management LLC lifted its stake in Lam Research Corporation (NASDAQ:LRCX) by 8.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,759 shares of the semiconductor company’s stock after purchasing an additional 615 shares during the quarter. Carret Asset Management LLC’s holdings in Lam Research Corporation were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of Lam Research Corporation in the second quarter worth approximately $254,000. Odey Holdings AG lifted its position in shares of Lam Research Corporation by 9.9% in the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after purchasing an additional 73 shares in the last quarter. BDO Wealth Advisors LLC purchased a new stake in shares of Lam Research Corporation in the second quarter worth approximately $118,000. Stephens Inc. AR lifted its position in shares of 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 purchasing an additional 54 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Lam Research Corporation in the second quarter worth approximately $134,000. 93.96% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Lam Research Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday. KeyCorp reissued an “outperform” rating and issued a $202.00 price target on shares of Lam Research Corporation in a research report on Saturday, September 16th. Argus assumed coverage on shares of Lam Research Corporation in a research report on Tuesday, September 12th. They issued a “buy” rating and a $196.00 price target for the company. Cowen and Company reissued an “outperform” rating and issued a $185.00 price target (up from $150.00) on shares of Lam Research Corporation in a research report on Thursday, July 27th. Finally, Needham & Company LLC increased their price target on shares of Lam Research Corporation from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $179.61.
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In other news, COO Timothy Archer sold 8,691 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $171.76, for a total transaction of $1,492,766.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $155.41, for a total value of $116,557.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,816 shares of company stock worth $8,466,705. Company insiders own 0.41% of the company’s stock.
Shares of Lam Research Corporation (NASDAQ:LRCX) traded up 0.78% during trading on Friday, reaching $184.24. The company’s stock had a trading volume of 414,125 shares. Lam Research Corporation has a 52 week low of $93.69 and a 52 week high of $187.57. The company has a market cap of $29.93 billion, a PE ratio of 19.94 and a beta of 1.53. The stock’s 50 day moving average price is $170.39 and its 200 day moving average price is $153.35.
Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.09. Lam Research Corporation had a return on equity of 26.78% and a net margin of 21.19%. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the business posted $1.80 EPS. The business’s revenue was up 51.6% compared to the same quarter last year. Equities research analysts predict that Lam Research Corporation will post $12.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio is currently 19.57%.
About Lam Research Corporation
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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