Eldred Rock Partners LLC lifted its position in shares of Lam Research Corporation (NASDAQ:LRCX – Free Report) by 6.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 71,251 shares of the semiconductor company’s stock after acquiring an additional 4,289 shares during the quarter. Lam Research makes up about 6.6% of Eldred Rock Partners LLC’s investment portfolio, making the stock its biggest position. Eldred Rock Partners LLC’s holdings in Lam Research were worth $30,875,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Lam Research during the fourth quarter valued at $3,645,427,000. Price T Rowe Associates Inc. MD lifted its position in shares of Lam Research by 352.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,695,210 shares of the semiconductor company’s stock worth $2,344,347,000 after buying an additional 10,666,540 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Lam Research by 57.0% in the 4th quarter. Franklin Resources Inc. now owns 10,110,560 shares of the semiconductor company’s stock worth $1,730,724,000 after buying an additional 3,671,073 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Lam Research by 235.5% in the 4th quarter. Corient Private Wealth LLC now owns 5,199,441 shares of the semiconductor company’s stock valued at $890,040,000 after buying an additional 3,649,553 shares during the period. Finally, J. Stern & Co. LLP boosted its holdings in shares of Lam Research by 3,826.9% in the 4th quarter. J. Stern & Co. LLP now owns 3,459,377 shares of the semiconductor company’s stock valued at $592,176,000 after buying an additional 3,371,283 shares during the period. 84.61% of the stock is currently owned by institutional investors.
Lam Research Stock Performance
Shares of LRCX stock opened at $311.35 on Friday. Lam Research Corporation has a 12-month low of $94.11 and a 12-month high of $438.50. The firm has a market capitalization of $389.36 billion, a price-to-earnings ratio of 54.05, a price-to-earnings-growth ratio of 1.22 and a beta of 1.84. The business has a 50 day simple moving average of $339.89 and a 200 day simple moving average of $279.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.63 and a quick ratio of 1.91.
Lam Research Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Wednesday, June 17th. Lam Research’s dividend payout ratio is currently 18.06%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on LRCX shares. Berenberg Bank increased their price objective on shares of Lam Research from $265.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $320.00 target price on shares of Lam Research in a report on Thursday, July 30th. Citigroup reiterated a “buy” rating and set a $450.00 price target (up from $315.00) on shares of Lam Research in a research report on Wednesday, June 17th. Wells Fargo & Company reissued an “overweight” rating and issued a $350.00 price target (down from $450.00) on shares of Lam Research in a report on Thursday, July 30th. Finally, Stifel Nicolaus boosted their price objective on Lam Research from $325.00 to $425.00 and gave the company a “buy” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $358.47.
Check Out Our Latest Research Report on LRCX
Insider Buying and Selling at Lam Research
In other news, SVP Neil J. Fernandes sold 7,659 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $309.60, for a total value of $2,371,226.40. Following the completion of the transaction, the senior vice president directly owned 58,470 shares in the company, valued at $18,102,312. This trade represents a 11.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $335.00, for a total transaction of $6,124,470.00. Following the transaction, the director owned 87,142 shares in the company, valued at $29,192,570. This represents a 17.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 80,441 shares of company stock valued at $27,614,296. Company insiders own 0.31% of the company’s stock.
About Lam Research
Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.
Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.
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