Lam Research Corporation (LRCX) Shares Bought by L & S Advisors Inc
L & S Advisors Inc raised its holdings in Lam Research Corporation (NASDAQ:LRCX) by 63.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,020 shares of the semiconductor company’s stock after purchasing an additional 15,195 shares during the period. L & S Advisors Inc’s holdings in Lam Research Corporation were worth $5,519,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Lam Research Corporation by 5.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 560,705 shares of the semiconductor company’s stock valued at $79,301,000 after purchasing an additional 28,662 shares during the period. Main Street Research LLC grew its holdings in Lam Research Corporation by 3.6% in the second quarter. Main Street Research LLC now owns 97,974 shares of the semiconductor company’s stock valued at $13,856,000 after purchasing an additional 3,367 shares during the period. Van ECK Associates Corp grew its holdings in Lam Research Corporation by 81.0% in the first quarter. Van ECK Associates Corp now owns 239,488 shares of the semiconductor company’s stock valued at $30,741,000 after purchasing an additional 107,149 shares during the period. Pacad Investment Ltd. grew its holdings in Lam Research Corporation by 252.5% in the second quarter. Pacad Investment Ltd. now owns 36,369 shares of the semiconductor company’s stock valued at $5,144,000 after purchasing an additional 26,052 shares during the period. Finally, Highland Capital Management LLC acquired a new stake in Lam Research Corporation in the second quarter valued at approximately $578,000. 93.96% of the stock is currently owned by institutional investors.
Several research firms have recently weighed in on LRCX. DA Davidson restated a “buy” rating and issued a $175.00 target price on shares of Lam Research Corporation in a research report on Wednesday, July 26th. Credit Suisse Group restated a “buy” rating on shares of Lam Research Corporation in a research report on Tuesday, August 29th. KeyCorp restated an “overweight” rating on shares of Lam Research Corporation in a research report on Thursday, July 27th. BidaskClub downgraded Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $189.00 target price (up previously from $170.00) on shares of Lam Research Corporation in a research report on Monday, June 19th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $177.68.
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Lam Research Corporation (NASDAQ LRCX) traded up 1.77% during midday trading on Friday, reaching $185.04. The company’s stock had a trading volume of 1,789,347 shares. The firm has a market cap of $30.06 billion, a price-to-earnings ratio of 20.03 and a beta of 1.47. Lam Research Corporation has a 1-year low of $90.56 and a 1-year high of $185.23. The company has a 50 day moving average price of $162.21 and a 200 day moving average price of $148.80.
Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share 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 analyst estimates of $2.31 billion. During the same quarter in the prior year, the company posted $1.80 EPS. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. On average, equities research analysts expect that Lam Research Corporation will post $12.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio is presently 19.57%.
In other Lam Research Corporation news, Director Stephen G. Newberry sold 750 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $155.41, for a total transaction of $116,557.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Timothy Archer sold 15,638 shares of the stock in a transaction on Monday, September 18th. The stock was sold at an average price of $175.65, for a total value of $2,746,814.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,476 shares of company stock worth $6,221,357. Corporate insiders own 0.46% of the company’s stock.
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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