Lam Research Corporation (NASDAQ:LRCX) Shares Sold by Huntington National Bank

Huntington National Bank decreased its stake in Lam Research Corporation (NASDAQ:LRCX) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,092 shares of the semiconductor company’s stock after selling 26 shares during the period. Huntington National Bank’s holdings in Lam Research Corporation were worth $155,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Lam Research Corporation by 3.1% in the first quarter. Vanguard Group Inc. now owns 15,750,128 shares of the semiconductor company’s stock valued at $2,021,687,000 after buying an additional 471,405 shares during the period. State Street Corp raised its position in Lam Research Corporation by 4.6% in the first quarter. State Street Corp now owns 7,112,786 shares of the semiconductor company’s stock valued at $912,994,000 after buying an additional 313,082 shares during the period. Janus Capital Management LLC raised its position in shares of Lam Research Corporation by 13.7% in the first quarter. Janus Capital Management LLC now owns 3,608,710 shares of the semiconductor company’s stock worth $463,214,000 after buying an additional 433,555 shares during the last quarter. LSV Asset Management raised its position in shares of Lam Research Corporation by 22.9% in the first quarter. LSV Asset Management now owns 2,408,170 shares of the semiconductor company’s stock worth $309,112,000 after buying an additional 449,402 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in shares of Lam Research Corporation by 3.6% in 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 buying an additional 82,974 shares during the last quarter. Hedge funds and other institutional investors own 98.98% of the company’s stock.

Shares of Lam Research Corporation (NASDAQ LRCX) traded up 1.28% during mid-day trading on Friday, reaching $160.49. 1,924,780 shares of the company were exchanged. Lam Research Corporation has a 12 month low of $89.80 and a 12 month high of $170.00. The stock has a market capitalization of $26.07 billion, a P/E ratio of 17.37 and a beta of 1.46. 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 (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, topping the consensus estimate of $3.02 by $0.09. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the firm earned $1.80 EPS. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. Analysts predict that Lam Research Corporation will post $12.71 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be given a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.80 annualized dividend and a dividend yield of 1.12%. Lam Research Corporation’s dividend payout ratio is presently 19.57%.

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A number of research analysts have issued reports on the stock. Berenberg Bank restated a “buy” rating on shares of Lam Research Corporation in a research note on Sunday, July 30th. Goldman Sachs Group, Inc. (The) lowered shares of Lam Research Corporation from a “conviction-buy” rating to a “buy” rating and upped their price target for the company from $153.00 to $160.00 in a research note on Monday, May 8th. They noted that the move was a valuation call. B. Riley restated a “buy” rating and set a $220.00 price target on shares of Lam Research Corporation in a research note on Tuesday. UBS AG restated a “buy” rating and set a $180.00 price target (up previously from $158.00) on shares of Lam Research Corporation in a research note on Wednesday, May 17th. Finally, Deutsche Bank AG upped their price target on shares of Lam Research Corporation from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, May 30th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Lam Research Corporation has a consensus rating of “Buy” and a consensus target price of $175.18.

In related news, COO Timothy Archer sold 8,942 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $155.51, for a total value of $1,390,570.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Sarah A. O’dowd sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $150.92, for a total transaction of $1,509,200.00. The disclosure for this sale can be found here. Insiders sold a total of 31,609 shares of company stock worth $4,918,116 over the last quarter. 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.

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

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