Platinum Investment Management Ltd. bought a new stake in shares of Lam Research Corporation (NASDAQ:LRCX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,200 shares of the semiconductor company’s stock, valued at approximately $311,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Lam Research Corporation during the 2nd quarter valued at $254,000. Odey Holdings AG lifted its stake in shares of Lam Research Corporation by 9.9% during the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 73 shares in the last quarter. BDO Wealth Advisors LLC purchased a new position in shares of Lam Research Corporation during the 2nd quarter valued at $118,000. Stephens Inc. AR lifted its stake in shares of Lam Research Corporation by 6.8% during the 1st 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. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Lam Research Corporation during the 2nd quarter valued at $134,000. Institutional investors own 93.96% of the company’s stock.
Shares of Lam Research Corporation (NASDAQ LRCX) traded up 0.44% during mid-day trading on Monday, hitting $185.65. 414,291 shares of the stock traded hands. Lam Research Corporation has a 12 month low of $93.69 and a 12 month high of $187.57. The firm has a 50 day moving average of $171.14 and a 200 day moving average of $153.76. The company has a market cap of $30.16 billion, a P/E ratio of 20.09 and a beta of 1.52.
Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.02 by $0.09. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same period last year, the firm posted $1.80 earnings per share. Equities analysts anticipate that Lam Research Corporation will post $12.75 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio is currently 19.57%.
In other news, Director Stephen G. Newberry sold 750 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $185.00, for a total value of $138,750.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Timothy Archer sold 6,897 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total transaction of $1,106,968.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,816 shares of company stock worth $8,466,705. Insiders own 0.41% of the company’s stock.
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A number of research analysts recently weighed in on LRCX shares. Stifel Nicolaus restated a “buy” rating and set a $189.00 target price (up previously from $170.00) on shares of Lam Research Corporation in a research note on Monday, June 19th. Needham & Company LLC lifted their target price on shares of Lam Research Corporation from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, June 16th. BidaskClub cut shares of Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. UBS AG restated a “buy” rating and set a $190.00 target price on shares of Lam Research Corporation in a research note on Tuesday, June 13th. Finally, 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 note on Sunday, June 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have given a buy rating to the stock. Lam Research Corporation currently has a consensus rating of “Buy” and a consensus price target of $179.61.
Lam Research Corporation Profile
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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