Gotham Asset Management LLC Has $31.49 Million Position in Lam Research Corporation (LRCX)
Gotham Asset Management LLC increased its position in Lam Research Corporation (NASDAQ:LRCX) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 222,663 shares of the semiconductor company’s stock after buying an additional 8,339 shares during the quarter. Gotham Asset Management LLC owned 0.14% of Lam Research Corporation worth $31,491,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Lam Research Corporation by 5.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 560,705 shares of the semiconductor company’s stock worth $79,301,000 after buying an additional 28,662 shares during the period. Main Street Research LLC increased its stake in shares of Lam Research Corporation by 3.6% in the second quarter. Main Street Research LLC now owns 97,974 shares of the semiconductor company’s stock worth $13,856,000 after buying an additional 3,367 shares during the period. Van ECK Associates Corp increased its stake in shares of Lam Research Corporation by 81.0% in the first quarter. Van ECK Associates Corp now owns 239,488 shares of the semiconductor company’s stock worth $30,741,000 after buying an additional 107,149 shares during the period. Pacad Investment Ltd. increased its stake in shares of Lam Research Corporation by 252.5% in the second quarter. Pacad Investment Ltd. now owns 36,369 shares of the semiconductor company’s stock worth $5,144,000 after buying an additional 26,052 shares during the period. Finally, Highland Capital Management LLC purchased a new position in shares of Lam Research Corporation in the second quarter worth $578,000. 93.96% of the stock is currently owned by institutional investors.
Shares of Lam Research Corporation (NASDAQ:LRCX) traded down 1.22% during mid-day trading on Thursday, hitting $182.76. 920,512 shares of the stock were exchanged. Lam Research Corporation has a 12 month low of $93.69 and a 12 month high of $187.57. The firm has a market cap of $29.69 billion, a P/E ratio of 19.78 and a beta of 1.53. The stock’s 50 day moving average is $169.83 and its 200 day moving average is $153.13.
Lam Research Corporation (NASDAQ:LRCX) last announced its quarterly earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 EPS 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 analyst estimates of $2.31 billion. Lam Research Corporation had a return on equity of 26.78% and a net margin of 21.19%. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.80 earnings per share. Analysts expect that Lam Research Corporation will post $12.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $1.80 annualized dividend and a dividend yield of 0.97%. Lam Research Corporation’s dividend payout ratio is currently 19.57%.
LRCX has been the topic of several analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $189.00 target price (up from $170.00) on shares of Lam Research Corporation in a research note on Monday, June 19th. Needham & Company LLC lifted their target price on shares of Lam Research Corporation from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, June 16th. BidaskClub downgraded shares of Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. UBS AG reaffirmed a “buy” rating and issued a $190.00 target price on shares of Lam Research Corporation in a research note on Tuesday, June 13th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $195.00 target price (up from $165.00) on shares of Lam Research Corporation in a research note on Sunday, June 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the company. Lam Research Corporation presently has an average rating of “Buy” and a consensus target price of $179.61.
In other news, COO Timothy Archer sold 6,897 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total transaction of $1,106,968.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen G. Newberry sold 750 shares of the firm’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total value of $116,557.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,816 shares of company stock worth $8,466,705. Insiders own 0.41% of the company’s stock.
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Lam Research Corporation 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.
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