GQG Partners LLC Takes Position in Lam Research Corporation (LRCX)

GQG Partners LLC purchased a new position in shares of Lam Research Corporation (NASDAQ:LRCX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 620,280 shares of the semiconductor company’s stock, valued at approximately $87,726,000. Lam Research Corporation accounts for about 6.5% of GQG Partners LLC’s investment portfolio, making the stock its 3rd largest position. GQG Partners LLC owned approximately 0.38% of Lam Research Corporation at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Lam Research Corporation by 2.6% during the second quarter. Vanguard Group Inc. now owns 16,162,079 shares of the semiconductor company’s stock worth $2,285,802,000 after purchasing an additional 411,951 shares during the period. State Street Corp raised its stake in Lam Research Corporation by 4.6% during the first quarter. State Street Corp now owns 7,112,786 shares of the semiconductor company’s stock worth $912,994,000 after purchasing an additional 313,082 shares during the period. Janus Capital Management LLC raised its stake in Lam Research Corporation by 13.7% during the first quarter. Janus Capital Management LLC now owns 3,608,710 shares of the semiconductor company’s stock worth $463,214,000 after purchasing an additional 433,555 shares during the period. TIAA CREF Investment Management LLC raised its stake in Lam Research Corporation by 3.6% during the first quarter. TIAA CREF Investment Management LLC now owns 2,373,238 shares of the semiconductor company’s stock worth $304,629,000 after purchasing an additional 82,974 shares during the period. Finally, American Century Companies Inc. raised its stake in Lam Research Corporation by 7.8% during the second quarter. American Century Companies Inc. now owns 1,950,620 shares of the semiconductor company’s stock worth $275,876,000 after purchasing an additional 141,444 shares during the period. 93.96% of the stock is currently owned by institutional investors.

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A number of brokerages have recently commented on LRCX. KeyCorp reissued an “outperform” rating and issued a $202.00 target price on shares of Lam Research Corporation in a research note on Saturday, September 16th. Argus began coverage on shares of Lam Research Corporation in a research note on Tuesday, September 12th. They issued a “buy” rating and a $196.00 target price on the stock. Cowen and Company reissued an “outperform” rating and issued a $185.00 target price (up previously from $150.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. B. Riley reissued a “buy” rating and issued a $220.00 target price on shares of Lam Research Corporation in a research note on Thursday, July 27th. Finally, Needham & Company LLC raised their target price on shares of Lam Research Corporation from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $177.68.

Shares of Lam Research Corporation (NASDAQ:LRCX) traded up 2.15% on Friday, reaching $175.98. 702,146 shares of the company’s stock traded hands. The company’s 50-day moving average is $162.21 and its 200-day moving average is $148.80. Lam Research Corporation has a 52 week low of $90.56 and a 52 week high of $178.18. The firm has a market capitalization of $28.59 billion, a P/E ratio of 19.05 and a beta of 1.47.

Lam Research Corporation (NASDAQ:LRCX) last released its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.02 by $0.09. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.80 EPS. Equities research analysts anticipate that Lam Research Corporation will post $12.75 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.04%. The ex-dividend date is Tuesday, September 12th. Lam Research Corporation’s payout ratio is currently 19.57%.

In related news, COO Timothy Archer sold 15,638 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $175.65, for a total transaction of $2,746,814.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total transaction of $116,557.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,726 shares of company stock valued at $6,086,357. Corporate insiders own 0.46% of the company’s stock.

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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Institutional Ownership by Quarter for Lam Research Corporation (NASDAQ:LRCX)

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