Aviance Capital Management LLC increased its stake in shares of Lam Research Corp. (NASDAQ:LRCX) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,995 shares of the company’s stock after buying an additional 933 shares during the period. Aviance Capital Management LLC’s holdings in Lam Research Corp. were worth $1,429,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. Advisor Partners LLC acquired a new position in shares of Lam Research Corp. during the first quarter worth approximately $217,000. Blue Rock Advisors LLC acquired a new position in shares of Lam Research Corp. during the first quarter worth approximately $217,000. Marietta Investment Partners LLC acquired a new position in shares of Lam Research Corp. during the first quarter worth approximately $252,000. E&G Advisors LP increased its position in shares of Lam Research Corp. by 23.1% in the second quarter. E&G Advisors LP now owns 3,200 shares of the company’s stock worth $269,000 after buying an additional 600 shares in the last quarter. Finally, Acrospire Investment Management LLC acquired a new position in shares of Lam Research Corp. during the first quarter worth approximately $281,000.
Lam Research Corp. (NASDAQ:LRCX) traded down 0.98% on Friday, hitting $91.78. The stock had a trading volume of 1,725,036 shares. The company has a 50 day moving average price of $92.44 and a 200-day moving average price of $84.40. Lam Research Corp. has a 52-week low of $61.65 and a 52-week high of $95.77. The company has a market cap of $14.71 billion, a price-to-earnings ratio of 17.58 and a beta of 1.31.
Lam Research Corp. (NASDAQ:LRCX) last announced its earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.16. Lam Research Corp. had a return on equity of 18.95% and a net margin of 15.53%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the business earned $1.50 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts predict that Lam Research Corp. will post $6.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Investors of record on Wednesday, September 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Monday, September 12th. This represents a $1.20 annualized dividend and a yield of 1.31%. Lam Research Corp.’s dividend payout ratio (DPR) is 22.99%.
A number of equities analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $105.00 target price on shares of Lam Research Corp. in a report on Tuesday. Cowen and Company reaffirmed an “outperform” rating and issued a $95.00 price target on shares of Lam Research Corp. in a research note on Wednesday, August 31st. DA Davidson reaffirmed a “buy” rating and issued a $110.00 price target on shares of Lam Research Corp. in a research note on Monday, August 15th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $100.00 price target on shares of Lam Research Corp. in a research note on Sunday, August 14th. Finally, Susquehanna reaffirmed a “neutral” rating on shares of Lam Research Corp. in a research note on Saturday, August 13th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $99.21.
About Lam Research Corp.
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.
Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Corp. (NASDAQ:LRCX).
Receive News & Ratings for Lam Research Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research Corp. and related companies with MarketBeat.com's FREE daily email newsletter.