Janus Henderson Group PLC Increases Position in Lam Research Corporation (LRCX)
Janus Henderson Group PLC boosted its stake in Lam Research Corporation (NASDAQ:LRCX) by 23,238.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,742,669 shares of the semiconductor company’s stock after buying an additional 4,722,348 shares during the period. Janus Henderson Group PLC owned approximately 2.93% of Lam Research Corporation worth $670,756,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Stephens Inc. AR raised its holdings in Lam Research Corporation by 6.8% in the 1st quarter. Stephens Inc. AR now owns 849 shares of the semiconductor company’s stock valued at $109,000 after acquiring an additional 54 shares during the period. Odey Holdings AG boosted its holdings in shares of Lam Research Corporation by 9.9% during the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after acquiring an additional 73 shares during the period. BDO Wealth Advisors LLC bought a new stake in shares of Lam Research Corporation during the second quarter worth approximately $118,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Lam Research Corporation during the second quarter worth approximately $134,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in shares of Lam Research Corporation by 358.3% during the second quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,100 shares of the semiconductor company’s stock worth $156,000 after acquiring an additional 860 shares during the period. Institutional investors and hedge funds own 93.96% of the company’s stock.
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In other news, COO Timothy Archer sold 8,691 shares of the stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $116,557.50. The disclosure for this sale can be found here. Insiders sold 48,816 shares of company stock worth $8,466,705 over the last ninety days. 0.41% of the stock is currently owned by insiders.
Several equities analysts have recently commented on LRCX shares. Zacks Investment Research downgraded Lam Research Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday. KeyCorp reissued an “outperform” rating and set a $202.00 price target on shares of Lam Research Corporation in a report on Saturday, September 16th. Argus began coverage on Lam Research Corporation in a research note on Tuesday, September 12th. They issued a “buy” rating and a $196.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Lam Research Corporation in a report on Friday, September 1st. Finally, ValuEngine lowered Lam Research Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $177.68.
Shares of Lam Research Corporation (NASDAQ:LRCX) traded down 0.36% on Wednesday, reaching $184.20. The company’s stock had a trading volume of 783,449 shares. The firm’s 50-day moving average price is $169.12 and its 200-day moving average price is $152.90. Lam Research Corporation has a 12 month low of $93.69 and a 12 month high of $187.57. The stock has a market cap of $29.92 billion, a P/E ratio of 19.94 and a beta of 1.53.
Lam Research Corporation (NASDAQ:LRCX) last released 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. Lam Research Corporation had a return on equity of 26.78% and a net margin of 21.19%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the firm posted $1.80 EPS. The company’s revenue was up 51.6% compared to the same quarter last year. On average, analysts forecast that Lam Research Corporation will post $12.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio is currently 19.57%.
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.
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