Parkwood LLC Sells 714 Shares of Lam Research Corporation (NASDAQ:LRCX)

Parkwood LLC lowered its position in Lam Research Corporation (NASDAQ:LRCX) by 16.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,512 shares of the semiconductor company’s stock after selling 714 shares during the period. Parkwood LLC’s holdings in Lam Research Corporation were worth $497,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of 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 in the last quarter. State Street Corp increased its position in shares of 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 in the last quarter. Janus Capital Management LLC increased 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 valued at $463,214,000 after buying an additional 433,555 shares in the last quarter. LSV Asset Management increased 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 valued at $309,112,000 after buying an additional 449,402 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased 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 valued at $304,629,000 after buying an additional 82,974 shares in the last quarter. Institutional investors and hedge funds own 98.98% of the company’s stock.

Lam Research Corporation (NASDAQ:LRCX) traded up 1.28% on Friday, reaching $160.49. 1,924,780 shares of the company traded hands. The stock’s 50-day moving average is $155.93 and its 200-day moving average is $140.94. Lam Research Corporation has a 1-year low of $89.80 and a 1-year high of $170.00. The stock has a market capitalization of $26.07 billion, a price-to-earnings ratio of 17.37 and a beta of 1.46.

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

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

WARNING: This news story was published by BNB Daily and is the sole property of of BNB Daily. If you are accessing this news story on another site, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://www.baseball-news-blog.com/2017/08/19/lam-research-corporation-nasdaqlrcx-shares-sold-by-parkwood-llc-updated-updated.html.

A number of analysts have commented on the stock. B. Riley reaffirmed a “buy” rating and set a $220.00 price target on shares of Lam Research Corporation in a research report on Tuesday. Morgan Stanley reaffirmed an “overweight” rating and set a $176.00 price target on shares of Lam Research Corporation in a research report on Monday, August 14th. ValuEngine raised shares of Lam Research Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 3rd. Citigroup Inc. cut shares of Lam Research Corporation from a “buy” rating to a “neutral” rating and cut their price target for the company from $200.00 to $175.00 in a research report on Thursday, August 3rd. Finally, BidaskClub cut shares of Lam Research Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Lam Research Corporation presently has a consensus rating of “Buy” and an average target price of $175.18.

In other 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 transaction of $1,390,570.42. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total transaction of $116,557.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,609 shares of company stock worth $4,918,116. Corporate 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.

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

Receive News & Ratings for Lam Research Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply