Chartwell Investment Partners LLC Has $5.07 Million Position in Lam Research Co. (NASDAQ:LRCX)

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Chartwell Investment Partners LLC grew its stake in Lam Research Co. (NASDAQ:LRCX) by 3.3% in the second quarter, HoldingsChannel.com reports. The fund owned 15,666 shares of the semiconductor company’s stock after acquiring an additional 495 shares during the period. Chartwell Investment Partners LLC’s holdings in Lam Research were worth $5,067,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fisher Asset Management LLC increased its holdings in shares of Lam Research by 53,842.4% in the first quarter. Fisher Asset Management LLC now owns 542,121 shares of the semiconductor company’s stock worth $130,109,000 after acquiring an additional 541,116 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Lam Research by 32.3% during the 1st quarter. Nuveen Asset Management LLC now owns 2,112,376 shares of the semiconductor company’s stock worth $506,970,000 after purchasing an additional 516,115 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Lam Research by 41.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 902,889 shares of the semiconductor company’s stock worth $216,693,000 after buying an additional 264,117 shares during the period. Sound Shore Management Inc. CT bought a new position in Lam Research in the first quarter valued at approximately $49,145,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Lam Research by 96.1% in the first quarter. PNC Financial Services Group Inc. now owns 406,358 shares of the semiconductor company’s stock valued at $97,525,000 after buying an additional 199,127 shares during the period. Institutional investors and hedge funds own 85.05% of the company’s stock.

LRCX stock opened at $377.16 on Friday. Lam Research Co. has a one year low of $181.38 and a one year high of $381.48. The stock has a market cap of $54.75 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 1.72 and a beta of 1.35. The company has a fifty day moving average price of $327.42 and a two-hundred day moving average price of $289.35. The company has a debt-to-equity ratio of 0.96, a current ratio of 3.43 and a quick ratio of 3.67.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 29th. The semiconductor company reported $4.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.58. Lam Research had a net margin of 22.42% and a return on equity of 49.72%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter last year, the company posted $3.62 EPS. Lam Research’s quarterly revenue was up 18.2% compared to the same quarter last year. Research analysts anticipate that Lam Research Co. will post 18.13 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Wednesday, June 17th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Tuesday, June 16th.

In other news, EVP Patrick J. Lord sold 10,719 shares of the business’s stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $343.00, for a total value of $3,676,617.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Vahid Vahedi sold 10,688 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $330.00, for a total transaction of $3,527,040.00. The disclosure for this sale can be found here. Insiders sold 33,466 shares of company stock worth $11,250,054 in the last ninety days. 0.43% of the stock is owned by company insiders.

Several research firms recently commented on LRCX. Mizuho boosted their price objective on shares of Lam Research from $385.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday. B. Riley upped their price objective on Lam Research from $435.00 to $450.00 in a research report on Thursday. KeyCorp lifted their target price on Lam Research from $348.00 to $421.00 and gave the company an “overweight” rating in a research report on Thursday. Susquehanna Bancshares reaffirmed a “buy” rating and set a $425.00 price target (up previously from $330.00) on shares of Lam Research in a research report on Wednesday. Finally, UBS Group raised their price target on shares of Lam Research from $385.00 to $420.00 and gave the stock a “buy” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $370.35.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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

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