Lam Research Corporation (LRCX) Shares Bought by Jaffetilchin Investment Partners LLC
Jaffetilchin Investment Partners LLC increased its stake in Lam Research Corporation (NASDAQ:LRCX) by 147.5% during the second quarter, Holdings Channel reports. The firm owned 8,232 shares of the semiconductor company’s stock after buying an additional 4,906 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Lam Research Corporation were worth $1,164,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. IFP Advisors Inc raised its position in Lam Research Corporation by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 22 shares during the last quarter. Stephens Inc. AR raised its position in Lam Research Corporation by 6.8% in the first quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 54 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Lam Research Corporation during the second quarter valued at about $134,000. Huntington National Bank raised its position 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 valued at $144,000 after buying an additional 504 shares during the last quarter. Finally, Financial Architects Inc raised its position 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 valued at $193,000 after buying an additional 1,258 shares during the last quarter. Institutional investors and hedge funds own 98.98% of the company’s stock.
Shares of Lam Research Corporation (NASDAQ:LRCX) opened at 158.81 on Tuesday. Lam Research Corporation has a 52-week low of $89.50 and a 52-week high of $170.00. The company has a market cap of $25.68 billion, a P/E ratio of 17.19 and a beta of 1.46. The firm has a 50-day moving average of $154.26 and a 200-day moving average of $140.02.
Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.02 by $0.09. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.95%. The business’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the company posted $1.80 earnings per share. Equities research analysts forecast that Lam Research Corporation will post $12.71 earnings per share for the current year.
The business 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 $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.14%. Lam Research Corporation’s dividend payout ratio is currently 19.57%.
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Several equities analysts have recently issued reports on LRCX shares. DA Davidson reiterated a “buy” rating and set a $175.00 target price on shares of Lam Research Corporation in a report on Wednesday, July 26th. Stifel Nicolaus reiterated a “buy” rating and set a $150.00 target price on shares of Lam Research Corporation in a report on Monday, April 17th. BidaskClub lowered shares of Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. KeyCorp reiterated an “overweight” rating on shares of Lam Research Corporation in a report on Thursday, July 27th. Finally, Berenberg Bank reiterated a “buy” rating on shares of Lam Research Corporation in a report on Sunday, July 30th. Four research 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’s stock. The stock has an average rating of “Buy” and a consensus target price of $175.18.
In other Lam Research Corporation news, COO Timothy Archer sold 8,942 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $155.51, for a total value of $1,390,570.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen G. Newberry sold 1,500 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $162.75, for a total transaction of $244,125.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,656 shares of company stock valued at $7,925,366. Corporate 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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