The Lam Research Corporation (LRCX) Stake Raised by Hartford Investment Management Co.

The Lam Research Corporation (LRCX) Stake Raised by Hartford Investment Management Co.

Hartford Investment Management Co. boosted its stake in Lam Research Corporation (NASDAQ:LRCX) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,589 shares of the company’s stock after buying an additional 1,361 shares during the period. Hartford Investment Management Co.’s holdings in Lam Research Corporation were worth $3,749,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MSI Financial Services Inc raised its position in Lam Research Corporation by 40.2% in the third quarter. MSI Financial Services Inc now owns 1,095 shares of the company’s stock valued at $104,000 after buying an additional 314 shares during the last quarter. New York Life Trust Co. raised its position in Lam Research Corporation by 95.3% in the third quarter. New York Life Trust Co. now owns 1,170 shares of the company’s stock valued at $111,000 after buying an additional 571 shares during the last quarter. Quadrant Capital Group LLC raised its position in Lam Research Corporation by 28.6% in the second quarter. Quadrant Capital Group LLC now owns 1,258 shares of the company’s stock valued at $103,000 after buying an additional 280 shares during the last quarter. Global X Management Co. LLC raised its position in Lam Research Corporation by 97.4% in the third quarter. Global X Management Co. LLC now owns 1,344 shares of the company’s stock valued at $127,000 after buying an additional 663 shares during the last quarter. Finally, Penserra Capital Management LLC raised its position in Lam Research Corporation by 95.0% in the third quarter. Penserra Capital Management LLC now owns 1,646 shares of the company’s stock valued at $155,000 after buying an additional 802 shares during the last quarter.

Shares of Lam Research Corporation (NASDAQ:LRCX) traded up 1.37% during midday trading on Wednesday, hitting $110.60. The stock had a trading volume of 586,860 shares. The firm has a 50 day moving average price of $106.29 and a 200 day moving average price of $97.22. The stock has a market cap of $18.01 billion, a PE ratio of 21.95 and a beta of 1.49. Lam Research Corporation has a one year low of $63.10 and a one year high of $111.19.

Lam Research Corporation (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 19th. The company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.03. Lam Research Corporation had a return on equity of 18.43% and a net margin of 15.02%. The company earned $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the business posted $1.82 EPS. Lam Research Corporation’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts forecast that Lam Research Corporation will post $8.38 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.65%. This is a boost from Lam Research Corporation’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, December 12th. Lam Research Corporation’s dividend payout ratio (DPR) is 35.79%.

Several research analysts have commented on the stock. B. Riley reaffirmed a “buy” rating and set a $120.00 price objective on shares of Lam Research Corporation in a research note on Monday, November 21st. Zacks Investment Research upgraded Lam Research Corporation from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research report on Thursday, December 29th. Morgan Stanley reiterated an “overweight” rating and set a $105.00 target price on shares of Lam Research Corporation in a research report on Saturday, October 8th. RBC Capital Markets reiterated an “outperform” rating and set a $120.00 target price (up from $110.00) on shares of Lam Research Corporation in a research report on Friday, January 13th. Finally, Royal Bank Of Canada lifted their target price on Lam Research Corporation from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, January 13th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $111.24.

In related news, COO Timothy Archer sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $107.42, for a total transaction of $537,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Martin B. Anstice sold 16,000 shares of the firm’s stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $100.54, for a total value of $1,608,640.00. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Lam Research Corporation Company Profile

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.

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