Westpac Banking Corp reduced its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 6.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,200 shares of the semiconductor company’s stock after selling 5,873 shares during the period. Westpac Banking Corp owned about 0.05% of Lam Research Corporation worth $12,333,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LRCX. IFP Advisors Inc increased its position in shares of 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 in the last quarter. Stephens Inc. AR increased its position 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 in the last quarter. BDO Wealth Advisors LLC purchased a new position in shares of Lam Research Corporation during the second quarter valued at approximately $118,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Lam Research Corporation during the second quarter valued at approximately $134,000. Finally, Huntington National Bank increased its position 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 in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Shares of Lam Research Corporation (NASDAQ LRCX) opened at 166.54 on Friday. The company has a 50 day moving average of $159.38 and a 200 day moving average of $143.83. The company has a market cap of $27.06 billion, a PE ratio of 18.02 and a beta of 1.46. Lam Research Corporation has a 52 week low of $89.80 and a 52 week high of $170.00.

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, beating the Thomson Reuters’ consensus estimate of $3.02 by $0.09. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The business’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter last year, the company posted $1.80 EPS. On average, analysts expect that Lam Research Corporation will post $12.71 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders 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 dividend yield of 1.08%. The ex-dividend date of this dividend is Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio (DPR) is currently 19.57%.

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Several research analysts have commented on LRCX shares. Stifel Nicolaus restated a “buy” rating and set a $189.00 price objective (up from $170.00) on shares of Lam Research Corporation in a research report on Monday, June 19th. Needham & Company LLC boosted their price objective on shares of Lam Research Corporation from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, June 16th. BidaskClub downgraded shares of Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. UBS AG restated a “buy” rating and set a $190.00 price objective on shares of Lam Research Corporation in a research report on Tuesday, June 13th. Finally, Bank of America Corporation restated a “buy” rating and set a $195.00 price objective (up from $165.00) on shares of Lam Research Corporation in a research report on Sunday, June 11th. Four 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. Lam Research Corporation presently has a consensus rating of “Buy” and a consensus target price of $175.18.

In related news, SVP Sarah A. O’dowd sold 10,000 shares of Lam Research Corporation stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $150.92, for a total value of $1,509,200.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of Lam Research Corporation stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $155.41, for a total transaction of $116,557.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,609 shares of company stock worth $4,918,116. 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.

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

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