Qube Research & Technologies Ltd raised its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 160.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,076 shares of the semiconductor company’s stock after acquiring an additional 663 shares during the quarter. Qube Research & Technologies Ltd’s holdings in Lam Research were worth $186,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Cetera Advisors LLC lifted its position in Lam Research by 13.7% during the first quarter. Cetera Advisors LLC now owns 2,095 shares of the semiconductor company’s stock valued at $425,000 after buying an additional 252 shares in the last quarter. Independent Advisor Alliance lifted its position in shares of Lam Research by 21.0% during the second quarter. Independent Advisor Alliance now owns 1,574 shares of the semiconductor company’s stock worth $244,000 after purchasing an additional 273 shares in the last quarter. BerganKDV Wealth Management LLC lifted its position in shares of Lam Research by 7.0% during the second quarter. BerganKDV Wealth Management LLC now owns 4,458 shares of the semiconductor company’s stock worth $770,000 after purchasing an additional 292 shares in the last quarter. Mn Services Vermogensbeheer B.V. lifted its position in shares of Lam Research by 1.2% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 25,437 shares of the semiconductor company’s stock worth $5,168,000 after purchasing an additional 300 shares in the last quarter. Finally, HGK Asset Management Inc. lifted its position in shares of Lam Research by 8.9% during the second quarter. HGK Asset Management Inc. now owns 3,686 shares of the semiconductor company’s stock worth $637,000 after purchasing an additional 300 shares in the last quarter. 89.19% of the stock is currently owned by hedge funds and other institutional investors.

LRCX stock opened at $153.46 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.90 and a quick ratio of 2.31. Lam Research Co. has a 1-year low of $149.02 and a 1-year high of $234.88. The firm has a market cap of $23.70 billion, a price-to-earnings ratio of 8.59, a price-to-earnings-growth ratio of 0.58 and a beta of 1.33.

Lam Research (NASDAQ:LRCX) last released its earnings results on Thursday, July 26th. The semiconductor company reported $5.31 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.37. Lam Research had a net margin of 21.49% and a return on equity of 47.14%. The firm had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the firm earned $3.11 earnings per share. The firm’s revenue for the quarter was up 33.3% compared to the same quarter last year. equities research analysts predict that Lam Research Co. will post 15.51 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 26th. Shareholders of record on Wednesday, September 12th will be paid a dividend of $1.10 per share. The ex-dividend date is Tuesday, September 11th. This represents a $4.40 annualized dividend and a yield of 2.87%. Lam Research’s payout ratio is 24.62%.

A number of research analysts have recently commented on LRCX shares. DA Davidson reissued a “buy” rating on shares of Lam Research in a research report on Monday, July 23rd. UBS Group raised shares of Lam Research from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a research report on Tuesday, June 26th. Citigroup reduced their target price on shares of Lam Research from $245.00 to $239.00 and set a “buy” rating on the stock in a research report on Friday, July 13th. Bank of America reduced their target price on shares of Lam Research from $305.00 to $285.00 and set a “buy” rating on the stock in a research report on Monday, June 11th. Finally, Stifel Nicolaus reduced their target price on shares of Lam Research from $295.00 to $279.00 and set a “buy” rating on the stock in a research report on Friday, July 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Lam Research currently has an average rating of “Buy” and an average price target of $247.01.

Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits worldwide. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition product for copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatment; SPEED gapfill high-density plasma chemical vapor deposition (CVD) products; Striker single-wafer atomic layer deposition (ALD) products; and VECTOR plasma-enhanced CVD ALD products.

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

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