Main Street Research LLC raised its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 3.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 97,974 shares of the semiconductor company’s stock after buying an additional 3,367 shares during the period. Lam Research Corporation comprises about 2.3% of Main Street Research LLC’s investment portfolio, making the stock its 9th largest position. Main Street Research LLC owned about 0.06% of Lam Research Corporation worth $13,856,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. IFP Advisors Inc increased its position 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 valued at $109,000 after buying an additional 22 shares during the last quarter. Stephens Inc. AR increased its position in 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 buying an additional 54 shares in the last quarter. Huntington National Bank increased its position in Lam Research Corporation by 82.1% in the first quarter. Huntington National Bank now owns 1,118 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 504 shares in the last quarter. Quadrant Capital Group LLC increased its position in 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 valued at $168,000 after buying an additional 4 shares in the last quarter. Finally, Atria Investments LLC purchased a new position in Lam Research Corporation during the first quarter valued at about $203,000. 99.18% of the stock is owned by institutional investors.
Lam Research Corporation (NASDAQ:LRCX) traded down 1.77% during midday trading on Friday, hitting $161.84. The company had a trading volume of 1,893,218 shares. The company has a market capitalization of $26.11 billion, a P/E ratio of 20.56 and a beta of 1.44. The stock has a 50 day moving average price of $153.62 and a 200 day moving average price of $136.06. Lam Research Corporation has a 52 week low of $88.13 and a 52 week high of $170.00.
Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.09. Lam Research Corporation had a return on equity of 23.84% and a net margin of 19.82%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the firm posted $1.80 earnings per share. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. Equities analysts forecast that Lam Research Corporation will post $12.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 7th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date was Monday, June 5th. Lam Research Corporation’s dividend payout ratio (DPR) is 19.57%.
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A number of analysts have weighed in on the stock. UBS AG reissued a “buy” rating and set a $158.00 target price (up previously from $144.00) on shares of Lam Research Corporation in a research report on Saturday, April 22nd. Credit Suisse Group set a $214.00 price target on Lam Research Corporation and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC increased their price target on Lam Research Corporation from $175.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday. B. Riley restated a “buy” rating and set a $220.00 price target on shares of Lam Research Corporation in a report on Thursday. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $215.00 target price (up from $189.00) on shares of Lam Research Corporation in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $173.88.
In other Lam Research Corporation news, Director Stephen G. Newberry sold 1,500 shares of the company’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $162.75, for a total transaction of $244,125.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Timothy Archer sold 6,897 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total value of $1,106,968.50. The disclosure for this sale can be found here. Insiders have sold 51,656 shares of company stock worth $7,925,366 over the last 90 days. 0.46% of the stock is owned by insiders.
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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