D.A. Davidson & CO. lowered its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 27.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,545 shares of the semiconductor company’s stock after selling 3,229 shares during the period. D.A. Davidson & CO.’s holdings in Lam Research Corporation were worth $1,208,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Lam Research Corporation by 3.1% during the first quarter. Vanguard Group Inc. now owns 15,750,128 shares of the semiconductor company’s stock worth $2,021,687,000 after purchasing an additional 471,405 shares during the last quarter. State Street Corp lifted its stake in Lam Research Corporation by 4.6% during the first quarter. State Street Corp now owns 7,112,786 shares of the semiconductor company’s stock worth $912,994,000 after purchasing an additional 313,082 shares during the last quarter. Janus Capital Management LLC lifted its stake in Lam Research Corporation by 13.7% during the first quarter. Janus Capital Management LLC now owns 3,608,710 shares of the semiconductor company’s stock worth $463,214,000 after purchasing an additional 433,555 shares during the last quarter. TIAA CREF Investment Management LLC lifted its stake in Lam Research Corporation by 3.6% during the first quarter. TIAA CREF Investment Management LLC now owns 2,373,238 shares of the semiconductor company’s stock worth $304,629,000 after purchasing an additional 82,974 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in Lam Research Corporation by 7.8% during the second quarter. American Century Companies Inc. now owns 1,950,620 shares of the semiconductor company’s stock worth $275,876,000 after purchasing an additional 141,444 shares during the last quarter. 93.96% of the stock is owned by hedge funds and other institutional investors.

In other Lam Research Corporation news, Director Stephen G. Newberry sold 750 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total value of $116,557.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Timothy Archer sold 6,897 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total transaction of $1,106,968.50. The disclosure for this sale can be found here. In the last three months, insiders sold 35,726 shares of company stock valued at $6,086,357. 0.46% of the stock is owned by insiders.

TRADEMARK VIOLATION NOTICE: This report was posted by Watch List News and is owned by of Watch List News. If you are reading this report on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this report can be viewed at https://www.watchlistnews.com/lam-research-corporation-lrcx-shares-sold-by-d-a-davidson-co/1586587.html.

Several equities research analysts have issued reports on LRCX shares. BidaskClub raised Lam Research Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Morgan Stanley reaffirmed an “overweight” rating and set a $176.00 price target on shares of Lam Research Corporation in a research note on Monday, August 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $189.00 price target (up previously from $170.00) on shares of Lam Research Corporation in a research note on Monday, June 19th. DA Davidson reaffirmed a “buy” rating and set a $175.00 price target on shares of Lam Research Corporation in a research note on Wednesday, July 26th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Lam Research Corporation in a research note on Tuesday, August 29th. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Lam Research Corporation currently has a consensus rating of “Buy” and an average price target of $177.68.

Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.09. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The firm had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the firm earned $1.80 EPS. The firm’s revenue for the quarter was up 51.6% compared to the same quarter last year.

The company also recently disclosed 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. This represents a $1.80 annualized dividend and a yield of 1.02%. The ex-dividend date is Tuesday, September 12th. Lam Research Corporation’s payout ratio is currently 19.57%.

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.

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

Receive News & Ratings for Lam Research Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.