Lam Research Corporation (LRCX) Shares Sold by Oak Associates Ltd. OH
Oak Associates Ltd. OH reduced its position in Lam Research Corporation (NASDAQ:LRCX) by 28.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,255 shares of the semiconductor company’s stock after selling 3,695 shares during the quarter. Oak Associates Ltd. OH’s holdings in Lam Research Corporation were worth $1,309,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Advisory Services Network LLC increased its holdings in Lam Research Corporation by 25.3% in the second quarter. Advisory Services Network LLC now owns 18,920 shares of the semiconductor company’s stock valued at $2,676,000 after buying an additional 3,824 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Lam Research Corporation in the second quarter valued at about $302,000. Covington Capital Management bought a new stake in Lam Research Corporation in the second quarter valued at about $208,000. Colony Group LLC bought a new stake in Lam Research Corporation in the second quarter valued at about $503,000. Finally, Koch Industries Inc. bought a new stake in Lam Research Corporation in the second quarter valued at about $309,000. 93.88% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently weighed in on LRCX shares. DA Davidson reissued a “buy” rating and issued a $175.00 price objective on shares of Lam Research Corporation in a report on Wednesday, July 26th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price objective (up from $200.00) on shares of Lam Research Corporation in a report on Friday. Credit Suisse Group restated a “buy” rating on shares of Lam Research Corporation in a research note on Tuesday, August 29th. KeyCorp restated an “overweight” rating on shares of Lam Research Corporation in a research note on Thursday, July 27th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $189.00 target price (up from $170.00) on shares of Lam Research Corporation in a research note on Monday, June 19th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $183.67.
In other news, Director Stephen G. Newberry sold 750 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $160.50, for a total transaction of $120,375.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Timothy Archer sold 15,638 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $175.65, for a total transaction of $2,746,814.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,066 shares of company stock valued at $8,350,148. Company insiders own 0.41% of the company’s stock.
Shares of Lam Research Corporation (NASDAQ LRCX) traded up 0.81% during trading on Monday, hitting $191.44. The stock had a trading volume of 818,324 shares. Lam Research Corporation has a one year low of $93.69 and a one year high of $193.85. The stock has a market cap of $31.10 billion, a price-to-earnings ratio of 20.72 and a beta of 1.52. The stock’s 50-day moving average price is $175.34 and its 200 day moving average price is $156.33.
Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.02 by $0.09. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The company’s revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the business posted $1.80 earnings per share. On average, equities analysts forecast that Lam Research Corporation will post $12.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Tuesday, September 12th. Lam Research Corporation’s payout ratio is 19.57%.
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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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