Koshinski Asset Management Inc. reduced its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 50.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,908 shares of the semiconductor company’s stock after selling 9,076 shares during the period. Koshinski Asset Management Inc.’s holdings in Lam Research Corporation were worth $1,260,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Xact Kapitalforvaltning AB raised its stake in shares of Lam Research Corporation by 4.0% in the second quarter. Xact Kapitalforvaltning AB now owns 39,633 shares of the semiconductor company’s stock valued at $5,605,000 after buying an additional 1,525 shares during the last quarter. KAMES CAPITAL plc raised its stake in shares of Lam Research Corporation by 379.6% in the second quarter. KAMES CAPITAL plc now owns 251,933 shares of the semiconductor company’s stock valued at $35,628,000 after buying an additional 199,402 shares during the last quarter. Grassi Investment Management raised its stake in shares of Lam Research Corporation by 1.3% in the second quarter. Grassi Investment Management now owns 7,925 shares of the semiconductor company’s stock valued at $1,121,000 after buying an additional 100 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Lam Research Corporation by 8.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 24,838 shares of the semiconductor company’s stock valued at $3,188,000 after buying an additional 1,879 shares during the last quarter. Finally, Piedmont Investment Advisors LLC raised its stake in shares of Lam Research Corporation by 1.8% in the first quarter. Piedmont Investment Advisors LLC now owns 41,097 shares of the semiconductor company’s stock valued at $5,275,000 after buying an additional 727 shares during the last quarter. 99.35% of the stock is currently owned by institutional investors.
Lam Research Corporation (NASDAQ:LRCX) traded up 1.83% during midday trading on Monday, reaching $150.84. The company’s stock had a trading volume of 2,278,861 shares. The firm has a market cap of $24.33 billion, a price-to-earnings ratio of 19.16 and a beta of 1.44. Lam Research Corporation has a 1-year low of $82.63 and a 1-year high of $167.05. The company has a 50 day moving average price of $152.90 and a 200 day moving average price of $129.51.
Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings data on Tuesday, April 18th. The semiconductor company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.25. Lam Research Corporation had a return on equity of 23.84% and a net margin of 19.82%. The business had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter last year, the firm earned $1.18 earnings per share. The business’s revenue was up 63.9% on a year-over-year basis. On average, equities research analysts expect that Lam Research Corporation will post $9.88 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 28th. Stockholders of record on Wednesday, June 7th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Monday, June 5th. Lam Research Corporation’s dividend payout ratio (DPR) is 22.96%.
Several analysts have commented on the company. Morgan Stanley reissued an “overweight” rating on shares of Lam Research Corporation in a report on Friday. BidaskClub lowered Lam Research Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Stifel Nicolaus reissued a “buy” rating and issued a $189.00 price objective (up from $170.00) on shares of Lam Research Corporation in a report on Monday, June 19th. Needham & Company LLC raised their price objective on Lam Research Corporation from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, June 16th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $195.00 price objective (up from $165.00) on shares of Lam Research Corporation in a report on Sunday, June 11th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Lam Research Corporation has an average rating of “Buy” and an average price target of $151.31.
In related news, Director Stephen G. Newberry sold 20,047 shares of the stock in a transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Patrick J. Lord sold 2,770 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $155.35, for a total value of $430,319.50. The disclosure for this sale can be found here. Insiders have sold 41,759 shares of company stock worth $6,337,340 in the last 90 days. 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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