Oaktop Capital Management II L.P. purchased a new stake in shares of Lam Research Corporation (NASDAQ:LRCX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 294,504 shares of the semiconductor company’s stock, valued at approximately $41,652,000. Lam Research Corporation accounts for about 7.6% of Oaktop Capital Management II L.P.’s holdings, making the stock its 2nd largest position. Oaktop Capital Management II L.P. owned 0.18% of Lam Research Corporation as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Keel Point LLC raised its position in Lam Research Corporation by 0.4% in the first quarter. Keel Point LLC now owns 2,303 shares of the semiconductor company’s stock valued at $296,000 after buying an additional 9 shares during the last quarter. Wetherby Asset Management Inc. raised its position in Lam Research Corporation by 0.7% in the second quarter. Wetherby Asset Management Inc. now owns 1,789 shares of the semiconductor company’s stock valued at $253,000 after buying an additional 12 shares during the last quarter. IFP Advisors Inc raised its position in Lam Research Corporation by 2.7% in the first quarter. IFP Advisors Inc now owns 850 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 22 shares during the last quarter. Smithfield Trust Co. raised its position in Lam Research Corporation by 0.9% in the second quarter. Smithfield Trust Co. now owns 2,382 shares of the semiconductor company’s stock valued at $337,000 after buying an additional 22 shares during the last quarter. Finally, Cleararc Capital Inc. raised its position in Lam Research Corporation by 0.6% in the first quarter. Cleararc Capital Inc. now owns 3,998 shares of the semiconductor company’s stock valued at $513,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 98.98% of the company’s stock.

Shares of Lam Research Corporation (LRCX) traded down 0.60% during midday trading on Friday, reaching $157.86. The company had a trading volume of 1,272,017 shares. The stock’s 50 day moving average is $158.09 and its 200-day moving average is $142.48. Lam Research Corporation has a 12-month low of $89.80 and a 12-month high of $170.00. The stock has a market capitalization of $25.64 billion, a PE ratio of 17.08 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 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.02 by $0.09. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations 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 was up 51.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.80 EPS. On average, equities research analysts predict that Lam Research Corporation will post $12.71 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 12th. This represents a $1.80 annualized dividend and a yield of 1.14%. Lam Research Corporation’s payout ratio is 19.57%.

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Several equities analysts have weighed in on the company. UBS AG reissued a “buy” rating and issued a $180.00 target price (up previously from $158.00) on shares of Lam Research Corporation in a research note on Wednesday, May 17th. B. Riley reissued a “buy” rating and issued a $220.00 target price on shares of Lam Research Corporation in a research note on Thursday, July 27th. Royal Bank Of Canada reissued an “outperform” rating and issued a $185.00 target price (up previously from $145.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. BidaskClub lowered Lam Research Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Needham & Company LLC increased their target price on Lam Research Corporation from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Lam Research Corporation has an average rating of “Buy” and a consensus price target of $175.18.

In other Lam Research Corporation news, SVP Sarah A. O’dowd sold 10,000 shares of Lam Research Corporation stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $150.92, for a total transaction of $1,509,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Timothy Archer sold 8,942 shares of Lam Research Corporation stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $155.51, for a total value of $1,390,570.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,609 shares of company stock worth $4,918,116. 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.

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

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