Wedge Capital Management L L P NC lowered its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 25.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 364,170 shares of the semiconductor company’s stock after selling 125,334 shares during the period. Wedge Capital Management L L P NC owned approximately 0.23% of Lam Research Corporation worth $51,505,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Main Street Research LLC boosted its stake in Lam Research Corporation by 3.6% in the second quarter. Main Street Research LLC now owns 97,974 shares of the semiconductor company’s stock worth $13,856,000 after buying an additional 3,367 shares during the period. Van ECK Associates Corp boosted its stake in Lam Research Corporation by 81.0% in the first quarter. Van ECK Associates Corp now owns 239,488 shares of the semiconductor company’s stock worth $30,741,000 after buying an additional 107,149 shares during the period. Highland Capital Management LLC purchased a new stake in Lam Research Corporation during the second quarter worth approximately $578,000. Soros Fund Management LLC purchased a new stake in Lam Research Corporation during the first quarter worth approximately $71,978,000. Finally, Rafferty Asset Management LLC boosted its stake in Lam Research Corporation by 21.9% in the first quarter. Rafferty Asset Management LLC now owns 46,035 shares of the semiconductor company’s stock worth $5,909,000 after buying an additional 8,255 shares during the period. Institutional investors own 98.98% of the company’s stock.
Lam Research Corporation (NASDAQ:LRCX) opened at 154.26 on Friday. Lam Research Corporation has a 52 week low of $89.10 and a 52 week high of $170.00. The company’s 50-day moving average price is $154.07 and its 200-day moving average price is $139.36. The company has a market capitalization of $24.95 billion, a price-to-earnings ratio of 16.69 and a beta of 1.46.
Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly 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. Lam Research Corporation had a return on equity of 26.95% and a net margin of 21.19%. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the business earned $1.80 EPS. Lam Research Corporation’s revenue for the quarter was up 51.6% compared to the same quarter last year. Equities analysts forecast that Lam Research Corporation will post $12.71 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $1.80 annualized dividend and a dividend yield of 1.17%. Lam Research Corporation’s dividend payout ratio is presently 19.57%.
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A number of analysts recently commented on LRCX shares. DA Davidson reiterated a “buy” rating and set a $175.00 price objective on shares of Lam Research Corporation in a research report on Wednesday, July 26th. Stifel Nicolaus restated a “buy” rating and issued a $150.00 price target on shares of Lam Research Corporation in a research report on Monday, April 17th. BidaskClub cut Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. KeyCorp restated an “overweight” rating on shares of Lam Research Corporation in a research report on Thursday, July 27th. Finally, Berenberg Bank restated a “buy” rating on shares of Lam Research Corporation in a research report on Sunday, July 30th. Four research 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 stock. Lam Research Corporation currently has a consensus rating of “Buy” and a consensus target price of $172.41.
In other Lam Research Corporation news, insider Patrick J. Lord sold 2,770 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $155.35, for a total transaction of $430,319.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen G. Newberry sold 20,047 shares of the business’s stock in a transaction that occurred on 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. In the last 90 days, insiders sold 51,656 shares of company stock valued at $7,925,366. 0.46% of the stock is owned by company 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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