Wealth Enhancement Advisory Services LLC raised its position in shares of Lam Research Corp. (NASDAQ:LRCX) by 11.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 16,907 shares of the company’s stock after buying an additional 1,728 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Lam Research Corp. were worth $1,421,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Legal & General Group Plc boosted its position in Lam Research Corp. by 0.5% in the first quarter. Legal & General Group Plc now owns 689,290 shares of the company’s stock valued at $56,933,000 after buying an additional 3,333 shares during the last quarter. Bank of Montreal Can purchased a new position in Lam Research Corp. during the second quarter valued at $30,739,000. Geode Capital Management LLC boosted its position in Lam Research Corp. by 3.0% in the first quarter. Geode Capital Management LLC now owns 1,345,517 shares of the company’s stock valued at $110,924,000 after buying an additional 39,093 shares during the last quarter. New York State Teachers Retirement System boosted its position in Lam Research Corp. by 1.3% in the second quarter. New York State Teachers Retirement System now owns 321,182 shares of the company’s stock valued at $26,999,000 after buying an additional 4,166 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Lam Research Corp. by 116.7% in the first quarter. Panagora Asset Management Inc. now owns 338,934 shares of the company’s stock valued at $27,996,000 after buying an additional 182,531 shares during the last quarter.
Shares of Lam Research Corp. (NASDAQ:LRCX) traded up 0.20% during mid-day trading on Monday, reaching $98.42. 898,280 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $94.51 and a 200 day moving average price of $86.48. The firm has a market capitalization of $15.77 billion, a price-to-earnings ratio of 18.85 and a beta of 1.46. Lam Research Corp. has a 12-month low of $63.10 and a 12-month high of $102.44.
Lam Research Corp. (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.16. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.53 billion. Lam Research Corp. had a net margin of 15.53% and a return on equity of 18.95%. Lam Research Corp.’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.50 EPS. Analysts anticipate that Lam Research Corp. will post $7.02 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 14th were issued a $0.30 dividend. The ex-dividend date was Monday, September 12th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.22%. Lam Research Corp.’s dividend payout ratio (DPR) is presently 22.99%.
Several research analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $105.00 price target on shares of Lam Research Corp. in a report on Saturday, October 8th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $105.00 price target on shares of Lam Research Corp. in a report on Sunday, October 9th. Needham & Company LLC reissued a “buy” rating and issued a $115.00 target price on shares of Lam Research Corp. in a research note on Monday. Zacks Investment Research cut Lam Research Corp. from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Citigroup Inc. reissued a “buy” rating and issued a $108.00 target price on shares of Lam Research Corp. in a research note on Thursday, October 6th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $101.38.
In other news, insider Richard A. Gottscho sold 47,540 shares of the business’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $98.85, for a total value of $4,699,329.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is currently owned by insiders.
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.
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