Lam Research Corporation (LRCX) Shares Sold by Investec Asset Management LTD

Investec Asset Management LTD decreased its position in shares of Lam Research Corporation (NASDAQ:LRCX) by 38.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,434,136 shares of the semiconductor company’s stock after selling 913,684 shares during the period. Investec Asset Management LTD owned approximately 0.89% of Lam Research Corporation worth $202,830,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Keel Point LLC grew its position in shares of Lam Research Corporation by 0.4% during the first quarter. Keel Point LLC now owns 2,303 shares of the semiconductor company’s stock valued at $296,000 after purchasing an additional 9 shares in the last quarter. Wetherby Asset Management Inc. grew its position in shares of Lam Research Corporation by 0.7% during the second quarter. Wetherby Asset Management Inc. now owns 1,789 shares of the semiconductor company’s stock valued at $253,000 after purchasing an additional 12 shares in the last quarter. Fiduciary Trust Co. grew its position in shares of Lam Research Corporation by 1.0% during the second quarter. Fiduciary Trust Co. now owns 2,044 shares of the semiconductor company’s stock valued at $289,000 after purchasing an additional 20 shares in the last quarter. Smithfield Trust Co. grew its position in shares of Lam Research Corporation by 0.9% during the second quarter. Smithfield Trust Co. now owns 2,382 shares of the semiconductor company’s stock valued at $337,000 after purchasing an additional 22 shares in the last quarter. Finally, Cleararc Capital Inc. grew its position in shares of Lam Research Corporation by 0.6% during the first quarter. Cleararc Capital Inc. now owns 3,998 shares of the semiconductor company’s stock valued at $513,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 93.96% of the company’s stock.

Shares of Lam Research Corporation (NASDAQ LRCX) traded up 2.2448% during mid-day trading on Monday, reaching $176.8732. 519,564 shares of the company’s stock traded hands. The stock has a market capitalization of $28.73 billion, a PE ratio of 19.1421 and a beta of 1.47. The company’s 50-day moving average price is $161.26 and its 200-day moving average price is $147.54. Lam Research Corporation has a 12-month low of $90.56 and a 12-month high of $177.83.

Lam Research Corporation (NASDAQ:LRCX) last posted 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 net margin of 21.19% and a return on equity of 26.78%. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the company posted $1.80 EPS. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. Analysts anticipate that Lam Research Corporation will post $12.75 earnings per share 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 paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $1.80 annualized dividend and a dividend yield of 1.04%. Lam Research Corporation’s dividend payout ratio (DPR) is 19.57%.

In other news, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total value of $116,557.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Timothy Archer sold 6,897 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last three months, insiders sold 29,338 shares of company stock valued at $4,717,492. Corporate insiders own 0.46% of the company’s stock.

A number of research analysts have recently weighed in on LRCX shares. BidaskClub upgraded Lam Research Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Morgan Stanley restated an “overweight” rating and set a $176.00 price objective on shares of Lam Research Corporation in a research report on Monday, August 14th. Stifel Nicolaus restated a “buy” rating and set a $189.00 price objective (up previously from $170.00) on shares of Lam Research Corporation in a research report on Monday, June 19th. DA Davidson restated a “buy” rating and set a $175.00 price objective on shares of Lam Research Corporation in a research report on Wednesday, July 26th. Finally, Credit Suisse Group restated a “buy” rating on shares of Lam Research Corporation in a research report on Tuesday, August 29th. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Lam Research Corporation presently has an average rating of “Buy” and an average price target of $177.68.

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

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