Synovus Financial Corp grew its holdings in Lam Research Corporation (NASDAQ:LRCX) by 12.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,358 shares of the semiconductor company’s stock after purchasing an additional 366 shares during the period. Synovus Financial Corp’s holdings in Lam Research Corporation were worth $473,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in LRCX. IFP Advisors Inc increased its stake 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 worth $109,000 after acquiring an additional 22 shares during the last quarter. Stephens Inc. AR grew 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 purchasing an additional 54 shares during the last quarter. BDO Wealth Advisors LLC acquired a new stake in shares of Lam Research Corporation in the second quarter valued at about $118,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Lam Research Corporation in the second quarter valued at about $134,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. grew its position in shares of Lam Research Corporation by 358.3% in the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock valued at $156,000 after purchasing an additional 860 shares during the last quarter. Institutional investors own 94.10% of the company’s stock.
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Lam Research Corporation (NASDAQ LRCX) opened at 172.55 on Friday. The stock’s 50 day moving average is $161.02 and its 200-day moving average is $147.16. The company has a market capitalization of $28.03 billion, a PE ratio of 18.67 and a beta of 1.47. Lam Research Corporation has a 12 month low of $90.56 and a 12 month high of $174.37.
Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, beating the Zacks’ consensus estimate of $3.02 by $0.09. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The firm’s revenue was up 51.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.80 EPS. On average, analysts expect that Lam Research Corporation will post $12.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, September 12th. Lam Research Corporation’s payout ratio is currently 19.57%.
LRCX has been the topic of several research analyst reports. BidaskClub raised Lam Research Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Morgan Stanley reiterated 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 issued a $189.00 target price (up previously from $170.00) on shares of Lam Research Corporation in a research note on Monday, June 19th. DA Davidson restated a “buy” rating and set a $175.00 price target on shares of Lam Research Corporation in a research note on Wednesday, July 26th. Finally, Credit Suisse Group restated a “buy” rating on shares of Lam Research Corporation in a research note on Tuesday, August 29th. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $176.33.
In other news, COO Timothy Archer sold 6,897 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $160.50, for a total value of $1,106,968.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $170.00, for a total transaction of $127,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,338 shares of company stock worth $4,717,492. Insiders own 0.46% of the company’s stock.
Lam Research Corporation Company 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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