Davis Selected Advisers lowered its stake in Lam Research Corporation (NASDAQ:LRCX) by 20.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,485 shares of the semiconductor company’s stock after selling 870 shares during the quarter. Davis Selected Advisers’ holdings in Lam Research Corporation were worth $493,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. Fiduciary Trust Co. grew its stake in Lam Research Corporation by 1.0% during the 2nd quarter. Fiduciary Trust Co. now owns 2,044 shares of the semiconductor company’s stock valued at $289,000 after purchasing an additional 20 shares in the last quarter. Meiji Yasuda Life Insurance Co grew its stake in Lam Research Corporation by 7.0% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 12,865 shares of the semiconductor company’s stock valued at $1,819,000 after purchasing an additional 840 shares in the last quarter. Synovus Financial Corp grew its stake in Lam Research Corporation by 12.2% during the 2nd quarter. Synovus Financial Corp now owns 3,358 shares of the semiconductor company’s stock valued at $473,000 after purchasing an additional 366 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in Lam Research Corporation during the 2nd quarter valued at approximately $354,000. Finally, Capital Advisors Inc. OK acquired a new stake in Lam Research Corporation during the 2nd quarter valued at approximately $424,000. Institutional investors and hedge funds own 94.10% of the company’s stock.
Shares of Lam Research Corporation (NASDAQ LRCX) traded up 0.125% during mid-day trading on Friday, reaching $172.795. The company’s stock had a trading volume of 350,392 shares. The company has a 50 day moving average of $161.02 and a 200-day moving average of $147.16. Lam Research Corporation has a 12 month low of $90.56 and a 12 month high of $174.37. The firm has a market capitalization of $28.07 billion, a P/E ratio of 18.701 and a beta of 1.47.
Lam Research Corporation (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, topping the consensus estimate of $3.02 by $0.09. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.31 billion. Lam Research Corporation had a return on equity of 26.78% and a net margin of 21.19%. Lam Research Corporation’s revenue was up 51.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.80 EPS. Equities research analysts forecast that Lam Research Corporation will post $12.75 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Tuesday, September 12th. Lam Research Corporation’s payout ratio is currently 19.57%.
A number of brokerages have weighed in on LRCX. UBS AG restated a “buy” rating and set a $190.00 price objective on shares of Lam Research Corporation in a research note on Tuesday, June 13th. B. Riley restated a “buy” rating and set a $220.00 price objective on shares of Lam Research Corporation in a research note on Thursday, July 27th. Royal Bank Of Canada restated an “outperform” rating and set a $185.00 price objective (up previously from $145.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. BidaskClub lowered Lam Research Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Needham & Company LLC raised their price objective on Lam Research Corporation from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $176.33.
In other Lam Research Corporation news, Director Stephen G. Newberry sold 750 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Sarah A. O’dowd sold 10,000 shares of the company’s stock in a transaction on 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. Insiders sold a total of 29,338 shares of company stock worth $4,717,492 over the last three months. 0.46% of the stock is owned by company insiders.
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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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