Eaton Vance Management purchased a new stake in Lam Research Corporation (NASDAQ:LRCX) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 28,350 shares of the semiconductor company’s stock, valued at approximately $4,010,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Keel Point LLC raised its holdings in Lam Research Corporation by 0.4% in the 1st quarter. Keel Point LLC now owns 2,303 shares of the semiconductor company’s stock valued at $296,000 after acquiring an additional 9 shares during the period. Wetherby Asset Management Inc. raised its holdings in Lam Research Corporation by 0.7% in the 2nd quarter. Wetherby Asset Management Inc. now owns 1,789 shares of the semiconductor company’s stock valued at $253,000 after acquiring an additional 12 shares during the period. Fiduciary Trust Co. raised its holdings in Lam Research Corporation by 1.0% in the 2nd quarter. Fiduciary Trust Co. now owns 2,044 shares of the semiconductor company’s stock valued at $289,000 after acquiring an additional 20 shares during the period. Smithfield Trust Co. raised its holdings in Lam Research Corporation by 0.9% in the 2nd quarter. Smithfield Trust Co. now owns 2,382 shares of the semiconductor company’s stock valued at $337,000 after acquiring an additional 22 shares during the period. Finally, Cleararc Capital Inc. raised its holdings in Lam Research Corporation by 0.6% in the 1st quarter. Cleararc Capital Inc. now owns 3,998 shares of the semiconductor company’s stock valued at $513,000 after acquiring an additional 25 shares during the period. 94.10% of the stock is currently owned by hedge funds and other institutional investors.
In other Lam Research Corporation news, COO Timothy Archer sold 8,691 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $171.76, for a total value of $1,492,766.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Sarah A. O’dowd sold 10,000 shares of the business’s stock in a transaction that occurred on 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 have sold a total of 29,338 shares of company stock worth $4,717,492 in the last ninety days. 0.46% of the stock is currently owned by insiders.
Several research analysts have recently commented on LRCX shares. Deutsche Bank AG raised their target price on shares of Lam Research Corporation from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, May 30th. UBS AG reaffirmed a “buy” rating and set a $190.00 target price (up from $180.00) on shares of Lam Research Corporation in a report on Monday, June 5th. Bank of America Corporation reaffirmed a “buy” rating and set a $195.00 target price (up from $165.00) on shares of Lam Research Corporation in a report on Sunday, June 11th. BidaskClub cut shares of Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Needham & Company LLC raised their target price on shares of Lam Research Corporation from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, June 16th. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $177.68.
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Shares of Lam Research Corporation (NASDAQ:LRCX) opened at 172.99 on Friday. The firm has a 50-day moving average of $161.26 and a 200-day moving average of $147.54. The firm has a market cap of $28.10 billion, a price-to-earnings ratio of 18.72 and a beta of 1.47. Lam Research Corporation has a 12 month low of $90.56 and a 12 month high of $174.37.
Lam Research Corporation (NASDAQ:LRCX) last posted its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.02 by $0.09. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. Lam Research Corporation’s revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.80 EPS. On average, analysts anticipate that Lam Research Corporation will post $12.75 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio (DPR) is presently 19.57%.
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.
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