Pinnacle Financial Partners Inc. lowered its stake in Lam Research Corporation (NASDAQ:LRCX) by 40.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,246 shares of the semiconductor company’s stock after selling 1,544 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Lam Research Corporation were worth $318,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new position in Lam Research Corporation during the first quarter valued at about $471,000. 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. Nisa Investment Advisors LLC raised its position in Lam Research Corporation by 13.5% in the first quarter. Nisa Investment Advisors LLC now owns 69,401 shares of the semiconductor company’s stock valued at $8,908,000 after buying an additional 8,251 shares during the last quarter. Barometer Capital Management Inc. bought a new position in Lam Research Corporation during the first quarter valued at about $4,339,000. Finally, DnB Asset Management AS raised its position in Lam Research Corporation by 15.4% in the first quarter. DnB Asset Management AS now owns 17,937 shares of the semiconductor company’s stock valued at $2,302,000 after buying an additional 2,400 shares during the last quarter. Institutional investors own 98.98% of the company’s stock.

Shares of Lam Research Corporation (NASDAQ LRCX) opened at 158.55 on Tuesday. Lam Research Corporation has a 12-month low of $89.50 and a 12-month high of $170.00. The firm has a market capitalization of $25.64 billion, a price-to-earnings ratio of 17.16 and a beta of 1.46. The stock’s 50 day moving average price is $154.26 and its 200 day moving average price is $140.02.

Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $2.31 billion. During the same period in the previous year, the company posted $1.80 EPS. The firm’s revenue for the quarter was up 51.6% compared to the same quarter last year. Equities research analysts expect that Lam Research Corporation will post $12.71 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.14%. The ex-dividend date is Tuesday, September 12th. Lam Research Corporation’s payout ratio is 19.57%.

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Several equities analysts recently issued reports on LRCX shares. KeyCorp reiterated an “overweight” rating on shares of Lam Research Corporation in a research report on Thursday, July 27th. Cowen and Company reiterated an “outperform” rating and issued a $185.00 price objective (up from $150.00) on shares of Lam Research Corporation in a research report on Thursday, July 27th. Needham & Company LLC boosted their price objective on Lam Research Corporation from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. B. Riley reiterated a “buy” rating and issued a $220.00 price objective on shares of Lam Research Corporation in a research report on Thursday, July 27th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $215.00 price objective (up from $189.00) on shares of Lam Research Corporation in a research report on Thursday, July 27th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $175.18.

In related news, Director Stephen G. Newberry sold 1,500 shares of the business’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $162.75, for a total transaction of $244,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Sarah A. O’dowd sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $150.92, for a total value of $1,509,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,656 shares of company stock valued at $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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Institutional Ownership by Quarter for Lam Research Corporation (NASDAQ:LRCX)

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