ClariVest Asset Management LLC Sells 1,400 Shares of Lam Research Co. (NASDAQ:LRCX)

ClariVest Asset Management LLC lowered its holdings in shares of Lam Research Co. (NASDAQ:LRCXGet Rating) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 29,841 shares of the semiconductor company’s stock after selling 1,400 shares during the period. ClariVest Asset Management LLC’s holdings in Lam Research were worth $12,717,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Artisan Partners Limited Partnership purchased a new stake in Lam Research during the 2nd quarter valued at $358,611,000. Sands Capital Management LLC boosted its position in Lam Research by 43.0% during the 2nd quarter. Sands Capital Management LLC now owns 1,877,199 shares of the semiconductor company’s stock valued at $799,968,000 after buying an additional 564,607 shares during the period. Invesco Ltd. boosted its position in Lam Research by 43.6% during the 1st quarter. Invesco Ltd. now owns 919,096 shares of the semiconductor company’s stock valued at $494,117,000 after buying an additional 279,193 shares during the period. Van ECK Associates Corp boosted its position in Lam Research by 38.1% during the 1st quarter. Van ECK Associates Corp now owns 953,874 shares of the semiconductor company’s stock valued at $512,812,000 after buying an additional 263,364 shares during the period. Finally, Theleme Partners LLP boosted its position in Lam Research by 115.3% during the 1st quarter. Theleme Partners LLP now owns 463,000 shares of the semiconductor company’s stock valued at $248,913,000 after buying an additional 248,000 shares during the period. Institutional investors own 80.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on LRCX shares. Citigroup dropped their price target on shares of Lam Research from $700.00 to $560.00 and set a “buy” rating for the company in a research report on Wednesday, October 19th. Bank of America dropped their target price on shares of Lam Research from $460.00 to $405.00 and set a “buy” rating for the company in a research report on Thursday, October 20th. Cowen dropped their target price on shares of Lam Research to $430.00 in a research report on Thursday, October 20th. Barclays dropped their target price on shares of Lam Research from $405.00 to $300.00 and set an “equal weight” rating for the company in a research report on Thursday, October 13th. Finally, Mizuho dropped their target price on shares of Lam Research from $650.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, October 18th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $484.86.

Lam Research Stock Up 1.3 %

NASDAQ:LRCX traded up $5.78 on Thursday, reaching $461.40. 823,667 shares of the stock traded hands, compared to its average volume of 2,077,977. The company has a market capitalization of $62.93 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.86 and a beta of 1.37. The company has a current ratio of 2.69, a quick ratio of 1.83 and a debt-to-equity ratio of 0.67. Lam Research Co. has a 12 month low of $299.59 and a 12 month high of $731.85. The company’s fifty day simple moving average is $399.02 and its 200 day simple moving average is $440.57.

Lam Research (NASDAQ:LRCXGet Rating) last announced its quarterly earnings results on Wednesday, October 19th. The semiconductor company reported $10.42 EPS for the quarter, topping analysts’ consensus estimates of $9.54 by $0.88. Lam Research had a net margin of 26.96% and a return on equity of 74.74%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.91 billion. During the same period in the previous year, the business posted $8.36 earnings per share. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. Equities analysts predict that Lam Research Co. will post 34.63 EPS for the current fiscal year.

Lam Research Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be paid a $1.725 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $6.90 dividend on an annualized basis and a dividend yield of 1.50%. Lam Research’s dividend payout ratio is presently 19.79%.

Lam Research Profile

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Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.

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

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