Louisiana State Employees Retirement System maintained its position in Lam Research Corporation (NASDAQ:LRCX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,000 shares of the semiconductor company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in Lam Research Corporation were worth $1,414,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of LRCX. Soros Fund Management LLC acquired a new position in Lam Research Corporation during the first quarter valued at approximately $71,978,000. Vanguard Group Inc. raised its position in Lam Research Corporation by 3.1% in the first quarter. Vanguard Group Inc. now owns 15,750,128 shares of the semiconductor company’s stock valued at $2,021,687,000 after buying an additional 471,405 shares during the period. LSV Asset Management raised its position in Lam Research Corporation by 22.9% in the first quarter. LSV Asset Management now owns 2,408,170 shares of the semiconductor company’s stock valued at $309,112,000 after buying an additional 449,402 shares during the period. Janus Capital Management LLC raised its position in Lam Research Corporation by 13.7% in the first quarter. Janus Capital Management LLC now owns 3,608,710 shares of the semiconductor company’s stock valued at $463,214,000 after buying an additional 433,555 shares during the period. Finally, UBS Asset Management Americas Inc. raised its position in Lam Research Corporation by 64.4% in the first quarter. UBS Asset Management Americas Inc. now owns 892,879 shares of the semiconductor company’s stock valued at $114,610,000 after buying an additional 349,635 shares during the period. 99.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lam Research Corporation (NASDAQ:LRCX) opened at 163.53 on Friday. The stock’s 50 day moving average is $152.86 and its 200 day moving average is $134.18. Lam Research Corporation has a 52 week low of $88.13 and a 52 week high of $167.05. The firm has a market cap of $26.38 billion, a P/E ratio of 20.77 and a beta of 1.44.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 28th. Investors of record on Wednesday, June 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Monday, June 5th. Lam Research Corporation’s dividend payout ratio is presently 22.96%.
Several equities analysts recently commented on LRCX shares. Bank of America Corporation reissued a “buy” rating and issued a $195.00 target price (up previously from $165.00) on shares of Lam Research Corporation in a report on Sunday, June 11th. Needham & Company LLC increased their target price on Lam Research Corporation from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, June 16th. Stifel Nicolaus reissued a “buy” rating and issued a $189.00 target price (up previously from $170.00) on shares of Lam Research Corporation in a report on Monday, June 19th. Morgan Stanley reissued an “overweight” rating on shares of Lam Research Corporation in a report on Friday, July 7th. Finally, Deutsche Bank AG increased their target price on Lam Research Corporation from $135.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. Two analysts have rated the stock with 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 $153.59.
In related news, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total transaction of $116,557.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Sarah A. O’dowd sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $150.92, for a total transaction of $1,509,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,656 shares of company stock valued at $7,925,366. Insiders own 0.46% of the company’s stock.
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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