Mariner Wealth Advisors LLC Sells 5,182 Shares of Lam Research Corporation (LRCX)

Mariner Wealth Advisors LLC trimmed its holdings in shares of Lam Research Corporation (NASDAQ:LRCX) by 24.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,869 shares of the semiconductor company’s stock after selling 5,182 shares during the period. Mariner Wealth Advisors LLC’s holdings in Lam Research Corporation were worth $2,244,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Keel Point LLC raised its stake in shares of Lam Research Corporation by 0.4% during the first quarter. Keel Point LLC now owns 2,303 shares of the semiconductor company’s stock worth $296,000 after buying an additional 9 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Lam Research Corporation by 0.7% during the second quarter. Wetherby Asset Management Inc. now owns 1,789 shares of the semiconductor company’s stock worth $253,000 after buying an additional 12 shares during the last quarter. Fiduciary Trust Co. raised its stake in shares of Lam Research Corporation by 1.0% during the second quarter. Fiduciary Trust Co. now owns 2,044 shares of the semiconductor company’s stock worth $289,000 after buying an additional 20 shares during the last quarter. Smithfield Trust Co. raised its stake in shares of Lam Research Corporation by 0.9% during the second quarter. Smithfield Trust Co. now owns 2,382 shares of the semiconductor company’s stock worth $337,000 after buying an additional 22 shares during the last quarter. Finally, Cleararc Capital Inc. raised its stake in shares of Lam Research Corporation by 0.6% during the first quarter. Cleararc Capital Inc. now owns 3,998 shares of the semiconductor company’s stock worth $513,000 after buying an additional 25 shares during the last quarter. 93.96% of the stock is owned by institutional investors and hedge funds.

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Lam Research Corporation (LRCX) traded up 2.58% on Friday, hitting $176.73. 1,582,779 shares of the stock traded hands. The company has a market cap of $28.71 billion, a price-to-earnings ratio of 19.13 and a beta of 1.47. Lam Research Corporation has a 1-year low of $90.56 and a 1-year high of $178.18. The stock has a 50-day moving average price of $162.21 and a 200 day moving average price of $148.80.

Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, July 26th. The semiconductor company reported $3.11 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.09. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.31 billion. Lam Research Corporation had a net margin of 21.19% and a return on equity of 26.78%. Lam Research Corporation’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.80 EPS. On average, analysts anticipate that Lam Research Corporation will post $12.75 EPS 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 paid a $0.45 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $1.80 annualized dividend and a dividend yield of 1.02%. Lam Research Corporation’s dividend payout ratio is currently 19.57%.

In other Lam Research Corporation news, Director Stephen G. Newberry sold 750 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $155.41, for a total transaction of $116,557.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Timothy Archer sold 15,638 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $175.65, for a total transaction of $2,746,814.70. The disclosure for this sale can be found here. Insiders sold a total of 35,726 shares of company stock valued at $6,086,357 in the last quarter. 0.46% of the stock is currently owned by company insiders.

A number of equities research analysts recently weighed in on LRCX shares. Morgan Stanley reissued an “overweight” rating on shares of Lam Research Corporation in a research note on Friday, July 7th. Credit Suisse Group reissued a “buy” rating on shares of Lam Research Corporation in a research note on Tuesday, August 29th. DA Davidson reissued a “buy” rating and set a $175.00 price target on shares of Lam Research Corporation in a research note on Wednesday, July 26th. Bank of America Corporation reissued a “buy” rating and set a $195.00 price target (up from $165.00) on shares of Lam Research Corporation in a research note on Sunday, June 11th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $189.00 price target (up from $170.00) on shares of Lam Research Corporation in a research note on Monday, June 19th. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $177.68.

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

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