Highland Capital Management LLC acquired a new stake in shares of Lam Research Corporation (NASDAQ:LRCX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,086 shares of the semiconductor company’s stock, valued at approximately $578,000.
Other hedge funds also recently added to or reduced their stakes in the company. Regentatlantic Capital LLC bought a new stake in Lam Research Corporation during the first quarter valued at $214,000. Pennsylvania Trust Co acquired a new stake in shares of Lam Research Corporation during the first quarter worth approximately $226,000. Quadrant Capital Group LLC raised its stake in shares of Lam Research Corporation by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 1,332 shares of the semiconductor company’s stock worth $168,000 after buying an additional 4 shares during the period. Koshinski Asset Management Inc. raised its stake in shares of Lam Research Corporation by 382.1% in the first quarter. Koshinski Asset Management Inc. now owns 17,984 shares of the semiconductor company’s stock worth $2,308,000 after buying an additional 14,254 shares during the period. Finally, Gulf International Bank UK Ltd raised its stake in shares of Lam Research Corporation by 7.2% in the first quarter. Gulf International Bank UK Ltd now owns 50,712 shares of the semiconductor company’s stock worth $6,509,000 after buying an additional 3,400 shares during the period. Institutional investors own 99.05% of the company’s stock.
Shares of Lam Research Corporation (LRCX) traded down 0.77% during trading on Friday, hitting $163.53. 1,848,013 shares of the company were exchanged. Lam Research Corporation has a 1-year low of $88.13 and a 1-year high of $167.05. The stock has a market capitalization of $26.38 billion, a PE ratio of 20.77 and a beta of 1.44. The company has a 50 day moving average of $152.86 and a 200-day moving average of $134.18.
Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings data on Tuesday, April 18th. The semiconductor company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.55 by $0.25. Lam Research Corporation had a return on equity of 23.84% and a net margin of 19.82%. The company had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the company earned $1.18 EPS. Lam Research Corporation’s revenue for the quarter was up 63.9% on a year-over-year basis. On average, analysts forecast that Lam Research Corporation will post $9.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 28th. Investors of record on Wednesday, June 7th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, June 5th. This represents a $1.80 annualized dividend and a yield of 1.10%. Lam Research Corporation’s payout ratio is 22.96%.
LRCX has been the subject of a number of recent research reports. Stifel Nicolaus restated a “buy” rating and set a $150.00 price target on shares of Lam Research Corporation in a research note on Monday, April 17th. BidaskClub lowered shares of Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Pacific Crest restated an “overweight” rating and set a $180.00 price target (up previously from $163.00) on shares of Lam Research Corporation in a research note on Saturday, April 22nd. Needham & Company LLC restated a “buy” rating and set a $165.00 price target (up previously from $145.00) on shares of Lam Research Corporation in a research note on Saturday, April 22nd. Finally, Citigroup Inc. restated a “buy” rating and set a $200.00 price target on shares of Lam Research Corporation in a research note on Wednesday, May 17th. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $153.59.
In related news, SVP Sarah A. O’dowd sold 10,000 shares of Lam Research Corporation stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $150.92, for a total value of $1,509,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen G. Newberry sold 20,047 shares of Lam Research Corporation stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $150.01, for a total value of $3,007,250.47. The disclosure for this sale can be found here. Insiders sold a total of 51,656 shares of company stock valued at $7,925,366 over the last quarter. 0.46% of the stock is owned by corporate insiders.
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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