Main Street Research LLC Has $13.86 Million Stake in Lam Research Corporation (NASDAQ:LRCX)

Main Street Research LLC raised its position in Lam Research Corporation (NASDAQ:LRCX) by 3.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 accounts for approximately 2.3% of Main Street Research LLC’s portfolio, making the stock its 9th largest position. Main Street Research LLC owned approximately 0.06% of Lam Research Corporation worth $13,856,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of LRCX. Quadrant Capital Group LLC boosted 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 last quarter. Keel Point LLC boosted its stake in shares of Lam Research Corporation by 0.4% in the first quarter. Keel Point LLC now owns 2,303 shares of the semiconductor company’s stock worth $296,000 after buying an additional 9 shares during the last quarter. IFP Advisors Inc boosted 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 buying an additional 22 shares during the last quarter. Cleararc Capital Inc. boosted its stake in shares of Lam Research Corporation by 0.6% in the first quarter. Cleararc Capital Inc. now owns 3,998 shares of the semiconductor company’s stock worth $513,000 after buying an additional 25 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in shares of Lam Research Corporation by 0.7% in the first quarter. Ameritas Investment Partners Inc. now owns 6,759 shares of the semiconductor company’s stock worth $868,000 after buying an additional 50 shares during the last quarter. 99.69% of the stock is owned by institutional investors.

Shares of Lam Research Corporation (LRCX) opened at 150.05 on Friday. The firm’s 50-day moving average is $153.65 and its 200 day moving average is $137.56. The firm has a market cap of $24.27 billion, a PE ratio of 16.24 and a beta of 1.46. 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 posted its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.02 by $0.09. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. Lam Research Corporation had a return on equity of 26.95% and a net margin of 21.19%. Lam Research Corporation’s revenue was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.80 earnings per share. Equities research analysts forecast that Lam Research Corporation will post $12.73 EPS for the current year.

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A number of equities research analysts have recently commented on the stock. UBS AG reaffirmed a “buy” rating and set a $158.00 price objective (up previously from $144.00) on shares of Lam Research Corporation in a research note on Saturday, April 22nd. B. Riley reaffirmed a “buy” rating and set a $220.00 price objective on shares of Lam Research Corporation in a research note on Thursday, July 27th. Needham & Company LLC raised their price objective on shares of Lam Research Corporation from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. Stifel Nicolaus reaffirmed a “buy” rating and set a $215.00 price objective (up previously from $189.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $185.00 price objective (up previously from $145.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $172.41.

In related news, COO Timothy Archer sold 8,942 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $155.51, for a total transaction of $1,390,570.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $160.50, for a total value of $120,375.00. The disclosure for this sale can be found here. Insiders sold 51,656 shares of company stock worth $7,925,366 in the last three months. 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.