Lam Research Corporation (LRCX) Stake Raised by BTC Capital Management Inc.
BTC Capital Management Inc. boosted its stake in Lam Research Corporation (NASDAQ:LRCX) by 0.9% during the second quarter, Holdings Channel reports. The fund owned 31,341 shares of the semiconductor company’s stock after buying an additional 268 shares during the period. BTC Capital Management Inc.’s holdings in Lam Research Corporation were worth $4,434,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LRCX. 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 increased its stake 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 valued at $109,000 after buying an additional 54 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Lam Research Corporation during the second quarter valued at approximately $134,000. Huntington National Bank increased its stake in shares of 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 period. Finally, Quadrant Capital Group LLC increased its stake in shares of Lam Research Corporation by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 1,332 shares of the semiconductor company’s stock valued at $168,000 after buying an additional 4 shares during the period. 98.98% of the stock is currently owned by institutional investors and hedge funds.
Lam Research Corporation (NASDAQ LRCX) opened at 149.44 on Friday. The firm has a market capitalization of $24.17 billion, a P/E ratio of 16.17 and a beta of 1.46. Lam Research Corporation has a one year low of $88.51 and a one year high of $170.00. The company’s 50-day moving average is $153.95 and its 200-day moving average is $139.07.
Lam Research Corporation (NASDAQ:LRCX) last issued its earnings results 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 26.95% 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 period last year, the business earned $1.80 EPS. Lam Research Corporation’s quarterly revenue was up 51.6% compared to the same quarter last year. Equities analysts forecast that Lam Research Corporation will post $12.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio is currently 19.57%.
Several analysts have commented on the stock. UBS AG restated a “buy” rating and set a $158.00 target price (up from $144.00) on shares of Lam Research Corporation in a report on Saturday, April 22nd. B. Riley restated a “buy” rating and set a $220.00 target price on shares of Lam Research Corporation in a report on Thursday, July 27th. Royal Bank Of Canada restated an “outperform” rating and set a $185.00 target price (up from $145.00) on shares of Lam Research Corporation in a report on Thursday, July 27th. Needham & Company LLC raised their target price on shares of Lam Research Corporation from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, BidaskClub downgraded shares of Lam Research Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $172.41.
In related news, COO Timothy Archer sold 8,942 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $155.51, for a total value of $1,390,570.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen G. Newberry sold 20,047 shares of the stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $150.01, for a total value of $3,007,250.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,656 shares of company stock worth $7,925,366. 0.46% of the stock is owned by company insiders.
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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