Quantinno Capital Management LP Boosts Stake in Lam Research Corporation $LRCX

Quantinno Capital Management LP lifted its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 11.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,063,637 shares of the semiconductor company’s stock after acquiring an additional 106,077 shares during the period. Lam Research makes up 0.4% of Quantinno Capital Management LP’s investment portfolio, making the stock its 23rd biggest position. Quantinno Capital Management LP’s holdings in Lam Research were worth $227,257,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Lam Research by 1,032.4% during the fourth quarter. Brighton Jones LLC now owns 14,189 shares of the semiconductor company’s stock valued at $1,025,000 after purchasing an additional 12,936 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Lam Research in the 1st quarter worth about $239,000. Gabelli Funds LLC purchased a new position in shares of Lam Research in the 2nd quarter worth about $253,000. NewEdge Advisors LLC raised its holdings in shares of Lam Research by 2.7% during the 2nd quarter. NewEdge Advisors LLC now owns 100,528 shares of the semiconductor company’s stock valued at $9,785,000 after buying an additional 2,661 shares in the last quarter. Finally, Osterweis Capital Management Inc. raised its holdings in shares of Lam Research by 5,206.7% during the 2nd quarter. Osterweis Capital Management Inc. now owns 796 shares of the semiconductor company’s stock valued at $77,000 after buying an additional 781 shares in the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LRCX shares. Cantor Fitzgerald set a $500.00 target price on Lam Research and gave the stock an “overweight” rating in a research note on Monday, June 29th. Rothschild & Co Redburn lifted their price target on shares of Lam Research from $305.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Raymond James Financial set a $425.00 price target on shares of Lam Research in a research note on Wednesday, June 10th. Jefferies Financial Group upped their price objective on shares of Lam Research from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Berenberg Bank increased their target price on shares of Lam Research from $265.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $363.37.

Insider Buying and Selling at Lam Research

In other Lam Research news, SVP Neil J. Fernandes sold 18,170 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $255.14, for a total value of $4,635,893.80. Following the completion of the sale, the senior vice president owned 66,129 shares in the company, valued at approximately $16,872,153.06. This trade represents a 21.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Abhijit Y. Talwalkar sold 18,282 shares of Lam Research stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $335.00, for a total value of $6,124,470.00. Following the completion of the sale, the director owned 87,142 shares in the company, valued at approximately $29,192,570. This represents a 17.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 98,611 shares of company stock valued at $32,250,190 in the last 90 days. Insiders own 0.31% of the company’s stock.

Lam Research Stock Performance

Shares of NASDAQ:LRCX opened at $291.61 on Tuesday. The company has a current ratio of 2.54, a quick ratio of 1.77 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average price of $342.02 and a 200-day moving average price of $274.96. The company has a market cap of $364.68 billion, a price-to-earnings ratio of 55.02, a price-to-earnings-growth ratio of 1.81 and a beta of 1.80. Lam Research Corporation has a 12 month low of $90.93 and a 12 month high of $438.50.

Lam Research Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Wednesday, June 17th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. Lam Research’s dividend payout ratio is presently 19.62%.

Lam Research Profile

Lam Research Corporation (NASDAQ: LRCX) is a global supplier of wafer fabrication equipment and services to the semiconductor industry. Founded in 1980 by David K. Lam and headquartered in Fremont, California, the company develops and manufactures systems used in multiple stages of semiconductor device production, including thin film deposition, plasma etch, wafer cleaning and related process modules and automation.

Lam’s product portfolio covers core process technologies employed by logic and memory manufacturers, with equipment designed to support advanced-node patterning, 3D NAND and other emerging device architectures.