Midas Management Corp continued to hold its position in Lam Research Corporation (NASDAQ:LRCX) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,000 shares of the semiconductor company’s stock at the end of the second quarter. Midas Management Corp’s holdings in Lam Research Corporation were worth $1,980,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stephens Inc. AR increased its stake in Lam Research Corporation by 6.8% in the first quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock worth $109,000 after buying an additional 54 shares during the period. IFP Advisors Inc increased its stake in Lam Research Corporation by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock worth $109,000 after buying an additional 22 shares during the last quarter. Huntington National Bank increased its stake in Lam Research Corporation by 82.1% in the first quarter. Huntington National Bank now owns 1,118 shares of the semiconductor company’s stock worth $144,000 after buying an additional 504 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Lam Research Corporation by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 1,332 shares of the semiconductor company’s stock worth $168,000 after buying an additional 4 shares during the last quarter. Finally, Financial Architects Inc increased its stake in Lam Research Corporation by 1,164.8% in the second quarter. Financial Architects Inc now owns 1,366 shares of the semiconductor company’s stock worth $193,000 after buying an additional 1,258 shares during the last quarter. 98.98% of the stock is currently owned by institutional investors and hedge funds.
Lam Research Corporation (LRCX) traded up 3.23% during mid-day trading on Friday, reaching $154.26. The company had a trading volume of 1,790,856 shares. Lam Research Corporation has a 52-week low of $89.10 and a 52-week high of $170.00. The company’s 50 day moving average is $154.07 and its 200 day moving average is $139.36. The stock has a market capitalization of $24.95 billion, a price-to-earnings ratio of 16.69 and a beta of 1.46.
Lam Research Corporation (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 EPS for the quarter, topping the Zacks’ consensus estimate of $3.02 by $0.09. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.95%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the business posted $1.80 EPS. The company’s quarterly revenue was up 51.6% on a year-over-year basis. Equities 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. Stockholders of record on Wednesday, September 13th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.17%. Lam Research Corporation’s dividend payout ratio is 19.57%.
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LRCX has been the topic of a number of research analyst reports. BidaskClub upgraded Lam Research Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Citigroup Inc. restated a “buy” rating and issued a $200.00 price objective on shares of Lam Research Corporation in a research report on Wednesday, May 17th. Royal Bank Of Canada restated an “outperform” rating and issued a $145.00 price objective (up from $140.00) on shares of Lam Research Corporation in a research report on Tuesday, April 18th. Morgan Stanley restated an “overweight” rating on shares of Lam Research Corporation in a research report on Friday, July 7th. Finally, UBS AG restated a “buy” rating and issued a $158.00 price objective (up from $144.00) on shares of Lam Research Corporation in a research report on Saturday, April 22nd. Four investment 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 stock. Lam Research Corporation presently has a consensus rating of “Buy” and a consensus price target of $172.41.
In related news, Director Stephen G. Newberry sold 750 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $160.50, for a total value of $120,375.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sarah A. O’dowd sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were 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. Over the last 90 days, insiders have sold 51,656 shares of company stock valued at $7,925,366. Company 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.
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