Sentry Investment Management LLC Raises Position in Lam Research Corporation (LRCX)
Sentry Investment Management LLC boosted its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,664 shares of the semiconductor company’s stock after buying an additional 363 shares during the period. Sentry Investment Management LLC’s holdings in Lam Research Corporation were worth $1,626,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Asset Management One Co. Ltd. raised its position in shares of Lam Research Corporation by 2,375.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 370,758 shares of the semiconductor company’s stock valued at $39,233,000 after buying an additional 355,783 shares during the period. Aviva PLC raised its position in shares of Lam Research Corporation by 8.0% in the fourth quarter. Aviva PLC now owns 106,021 shares of the semiconductor company’s stock valued at $11,211,000 after buying an additional 7,838 shares during the period. Cypress Capital Management LLC purchased a new position in shares of Lam Research Corporation during the fourth quarter valued at $326,000. Marshall Wace LLP raised its position in shares of Lam Research Corporation by 740.2% in the fourth quarter. Marshall Wace LLP now owns 468,930 shares of the semiconductor company’s stock valued at $49,580,000 after buying an additional 413,117 shares during the period. Finally, Amtrust Financial Services Inc. purchased a new position in shares of Lam Research Corporation during the fourth quarter valued at $2,115,000. 99.34% of the stock is owned by institutional investors and hedge funds.
Lam Research Corporation (LRCX) traded down 0.18% during midday trading on Friday, reaching $148.21. The company’s stock had a trading volume of 4,113,402 shares. The firm has a market cap of $23.91 billion, a P/E ratio of 18.83 and a beta of 1.39. Lam Research Corporation has a one year low of $79.15 and a one year high of $167.05. The firm has a 50 day moving average price of $153.05 and a 200 day moving average price of $126.60.
Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings results on Tuesday, April 18th. The semiconductor company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.55 by $0.25. The business had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Lam Research Corporation had a net margin of 19.82% and a return on equity of 23.84%. The business’s quarterly revenue was up 63.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.18 EPS. Equities research analysts forecast that Lam Research Corporation will post $9.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 7th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.21%. The ex-dividend date is Monday, June 5th. Lam Research Corporation’s payout ratio is currently 22.96%.
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Several research firms have issued reports on LRCX. Bank of America Corporation restated a “buy” rating and set a $195.00 target price (up previously from $165.00) on shares of Lam Research Corporation in a research report on Sunday, June 11th. Deutsche Bank AG increased their target price on Lam Research Corporation from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, May 30th. BidaskClub downgraded Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Citigroup Inc. restated a “buy” rating and set a $200.00 target price on shares of Lam Research Corporation in a research report on Wednesday, May 17th. Finally, Goldman Sachs Group, Inc. (The) downgraded Lam Research Corporation from a “conviction-buy” rating to a “buy” rating and increased their target price for the stock from $153.00 to $160.00 in a research report on Monday, May 8th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $148.88.
In other Lam Research Corporation news, insider Patrick J. Lord sold 2,770 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $155.35, for a total value of $430,319.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Timothy Archer sold 4,223 shares of the business’s stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $125.25, for a total transaction of $528,930.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,982 shares of company stock worth $5,357,071. 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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