Cypress Capital Management LLC Buys 1,770 Shares of Lam Research Corporation (LRCX)

Cypress Capital Management LLC lifted its stake in Lam Research Corporation (NASDAQ:LRCX) by 41.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,028 shares of the semiconductor company’s stock after buying an additional 1,770 shares during the quarter. Cypress Capital Management LLC’s holdings in Lam Research Corporation were worth $853,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of Lam Research Corporation in the second quarter worth about $254,000. Odey Holdings AG boosted its stake in shares of Lam Research Corporation by 9.9% in the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after buying an additional 73 shares during the last quarter. BDO Wealth Advisors LLC purchased a new stake in shares of Lam Research Corporation in the second quarter worth about $118,000. Stephens Inc. AR boosted 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 worth $109,000 after buying an additional 54 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Lam Research Corporation in the second quarter worth about $134,000. Hedge funds and other institutional investors own 93.96% of the company’s stock.

A number of analysts have recently commented on LRCX shares. BidaskClub upgraded Lam Research Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Morgan Stanley restated an “overweight” rating and issued a $176.00 target price on shares of Lam Research Corporation in a research note on Monday, August 14th. Stifel Nicolaus reiterated a “buy” rating and set a $189.00 price target (up previously from $170.00) on shares of Lam Research Corporation in a research report on Monday, June 19th. DA Davidson reiterated a “buy” rating and set a $175.00 price target on shares of Lam Research Corporation in a research report on Wednesday, July 26th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Lam Research Corporation in a research report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the stock. Lam Research Corporation currently has a consensus rating of “Buy” and an average price target of $179.61.

In related news, COO Timothy Archer sold 11,590 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $181.76, for a total value of $2,106,598.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $185.00, for a total value of $138,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,816 shares of company stock worth $8,466,705. 0.41% of the stock is owned by corporate insiders.

Lam Research Corporation (NASDAQ LRCX) traded down 0.01% during trading on Monday, hitting $184.81. The stock had a trading volume of 519,319 shares. The firm has a market cap of $30.02 billion, a P/E ratio of 20.00 and a beta of 1.52. Lam Research Corporation has a 12-month low of $93.69 and a 12-month high of $187.57. The stock’s 50 day moving average price is $171.14 and its 200 day moving average price is $153.76.

Lam Research Corporation (NASDAQ:LRCX) last posted its earnings results 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 26.78% and a net margin of 21.19%. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the company earned $1.80 EPS. Lam Research Corporation’s revenue was up 51.6% on a year-over-year basis. On average, analysts anticipate that Lam Research Corporation will post $12.80 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Tuesday, September 12th. Lam Research Corporation’s payout ratio is currently 19.57%.

ILLEGAL ACTIVITY WARNING: This piece of content was first published by BBNS and is the property of of BBNS. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright laws. The legal version of this piece of content can be read at https://baseballnewssource.com/markets/cypress-capital-management-llc-buys-1770-shares-of-lam-research-corporation-lrcx/1702457.html.

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.

Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Corporation (NASDAQ:LRCX).

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

Receive News & Ratings for Lam Research Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends
PED Use Cost Alex Rodriguez Millions and His Reputation
PED Use Cost Alex Rodriguez Millions and His Reputation
Yankees to Send Masahiro Tanaka Against Astros in Game 1
Yankees to Send Masahiro Tanaka Against Astros in Game 1
Red Sox Waste Little Time in Firing John Farrell
Red Sox Waste Little Time in Firing John Farrell
Washington Nationals Sans Strasburg for Game 4 at Wrigley
Washington Nationals Sans Strasburg for Game 4 at Wrigley
Red Sox Beat Houston Sunday to Avoid Elimination
Red Sox Beat Houston Sunday to Avoid Elimination


Leave a Reply

 
© 2006-2017 BBNS.