Advisor Partners LLC Has $575,000 Position in Lam Research Corporation (LRCX)

Advisor Partners LLC cut its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,067 shares of the semiconductor company’s stock after selling 52 shares during the period. Advisor Partners LLC’s holdings in Lam Research Corporation were worth $575,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in LRCX. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Lam Research Corporation by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 141,598 shares of the semiconductor company’s stock worth $18,176,000 after buying an additional 4,436 shares during the last quarter. Raymond James Trust N.A. acquired a new stake in shares of Lam Research Corporation during the first quarter worth approximately $320,000. Creative Planning boosted its stake in shares of Lam Research Corporation by 45.5% in the first quarter. Creative Planning now owns 9,680 shares of the semiconductor company’s stock worth $1,243,000 after buying an additional 3,026 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Lam Research Corporation by 7.2% in the first quarter. Gulf International Bank UK Ltd now owns 50,712 shares of the semiconductor company’s stock worth $6,509,000 after buying an additional 3,400 shares during the last quarter. Finally, Koshinski Asset Management Inc. boosted its stake in shares of Lam Research Corporation by 382.1% in the first quarter. Koshinski Asset Management Inc. now owns 17,984 shares of the semiconductor company’s stock worth $2,308,000 after buying an additional 14,254 shares during the last quarter. 98.98% of the stock is owned by institutional investors and hedge funds.

Lam Research Corporation (NASDAQ:LRCX) traded up 1.28% during mid-day trading on Friday, hitting $160.49. 1,924,780 shares of the stock traded hands. The stock has a 50 day moving average price of $155.93 and a 200 day moving average price of $140.94. Lam Research Corporation has a 12-month low of $89.80 and a 12-month high of $170.00. The firm has a market cap of $26.07 billion, a PE ratio of 17.37 and a beta of 1.46.

Lam Research Corporation (NASDAQ:LRCX) last released its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.09. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. During the same period last year, the firm posted $1.80 earnings per share. On average, analysts expect that Lam Research Corporation will post $12.71 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio (DPR) is currently 19.57%.

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A number of equities research analysts have recently commented on LRCX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $165.00 target price (up from $145.00) on shares of Lam Research Corporation in a report on Saturday, April 22nd. Pacific Crest reissued an “overweight” rating and set a $180.00 price target (up from $163.00) on shares of Lam Research Corporation in a report on Saturday, April 22nd. UBS AG reissued a “buy” rating and set a $158.00 price target (up from $144.00) on shares of Lam Research Corporation in a report on Saturday, April 22nd. B. Riley reissued a “buy” rating and set a $175.00 price target on shares of Lam Research Corporation in a report on Monday, April 24th. Finally, Goldman Sachs Group, Inc. (The) cut shares of Lam Research Corporation from a “conviction-buy” rating to a “buy” rating and increased their price target for the stock from $153.00 to $160.00 in a report on Monday, May 8th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $175.18.

In other news, Director Stephen G. Newberry sold 1,500 shares of Lam Research Corporation stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $162.75, for a total value of $244,125.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick J. Lord sold 2,770 shares of Lam Research Corporation 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 disclosure for this sale can be found here. Over the last three months, insiders sold 31,609 shares of company stock worth $4,918,116. 0.46% of the stock is currently owned by insiders.

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.

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

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