Financial Counselors Inc. Sells 1,788 Shares of Lam Research Corporation (LRCX)

Financial Counselors Inc. lessened its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 16.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,401 shares of the semiconductor company’s stock after selling 1,788 shares during the quarter. Financial Counselors Inc.’s holdings in Lam Research Corporation were worth $1,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Lam Research Corporation by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 15,750,128 shares of the semiconductor company’s stock worth $2,021,687,000 after purchasing an additional 471,405 shares in the last quarter. State Street Corp increased its position in Lam Research Corporation by 4.6% during the 1st quarter. State Street Corp now owns 7,112,786 shares of the semiconductor company’s stock worth $912,994,000 after purchasing an additional 313,082 shares in the last quarter. Janus Capital Management LLC increased its position in Lam Research Corporation by 13.7% during the 1st quarter. Janus Capital Management LLC now owns 3,608,710 shares of the semiconductor company’s stock worth $463,214,000 after purchasing an additional 433,555 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Lam Research Corporation by 3.6% during the 1st quarter. TIAA CREF Investment Management LLC now owns 2,373,238 shares of the semiconductor company’s stock worth $304,629,000 after purchasing an additional 82,974 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Lam Research Corporation by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 1,950,620 shares of the semiconductor company’s stock worth $275,876,000 after purchasing an additional 141,444 shares in the last quarter. Hedge funds and other institutional investors own 94.10% of the company’s stock.

In other news, COO Timothy Archer sold 6,897 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $160.50, for a total transaction of $1,106,968.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Stephen G. Newberry sold 750 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $160.50, for a total value of $120,375.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,667 shares of company stock worth $3,527,546. 0.46% of the stock is currently owned by insiders.

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Shares of Lam Research Corporation (NASDAQ LRCX) opened at 169.96 on Tuesday. The stock has a market cap of $27.61 billion, a PE ratio of 18.39 and a beta of 1.47. Lam Research Corporation has a one year low of $90.56 and a one year high of $170.65. The stock’s 50 day moving average price is $160.21 and its 200-day moving average price is $146.24.

Lam Research Corporation (NASDAQ:LRCX) last issued its earnings results on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, topping 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 company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the firm posted $1.80 EPS. The business’s revenue was up 51.6% compared to the same quarter last year. On average, equities analysts predict that Lam Research Corporation will post $12.73 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Tuesday, September 12th. Lam Research Corporation’s dividend payout ratio is 19.57%.

A number of research firms recently commented on LRCX. Argus began coverage on Lam Research Corporation in a research report on Tuesday. They set a “buy” rating and a $196.00 price objective for the company. B. Riley reiterated a “buy” rating and set a $220.00 price objective on shares of Lam Research Corporation in a research report on Thursday, July 27th. Cowen and Company reiterated an “outperform” rating and set a $185.00 price objective (up previously from $150.00) on shares of Lam Research Corporation in a research report on Thursday, July 27th. Needham & Company LLC lifted their price objective on Lam Research Corporation from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, July 27th. Finally, KeyCorp reiterated an “overweight” rating on shares of Lam Research Corporation in a research report on Thursday, July 27th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $176.33.

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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