Empowered Funds LLC Has $74.81 Million Holdings in Lam Research Corporation $LRCX

Empowered Funds LLC trimmed its holdings in shares of Lam Research Corporation (NASDAQ:LRCX - Free Report) by 11.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 350,156 shares of the semiconductor company's stock after selling 43,745 shares during the quarter. Lam Research comprises about 0.5% of Empowered Funds LLC's investment portfolio, making the stock its 20th largest holding. Empowered Funds LLC's holdings in Lam Research were worth $74,814,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. KCM Investment Advisors LLC boosted its stake in shares of Lam Research by 7.2% in the first quarter. KCM Investment Advisors LLC now owns 12,723 shares of the semiconductor company's stock valued at $2,718,000 after buying an additional 859 shares during the period. Excelsior Advisor Network LLC increased its stake in Lam Research by 3.0% during the 1st quarter. Excelsior Advisor Network LLC now owns 3,916 shares of the semiconductor company's stock worth $837,000 after acquiring an additional 113 shares during the period. Quantinno Capital Management LP raised its holdings in Lam Research by 11.1% in the 1st quarter. Quantinno Capital Management LP now owns 1,063,637 shares of the semiconductor company's stock valued at $227,257,000 after acquiring an additional 106,077 shares in the last quarter. Clough Capital Partners L P bought a new stake in shares of Lam Research during the 1st quarter valued at $2,032,000. Finally, SummitTX Capital L.P. acquired a new stake in shares of Lam Research during the 1st quarter worth $2,094,000. Institutional investors and hedge funds own 84.61% of the company's stock.

Insider Activity at Lam Research

In other Lam Research news, Director Abhijit Y. Talwalkar sold 18,282 shares of the stock in a transaction dated 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 transaction, the director directly owned 87,142 shares in the company, valued at approximately $29,192,570. This trade represents a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Brandt sold 54,500 shares of Lam Research stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $350.80, for a total value of $19,118,600.00. Following the sale, the director directly owned 199,205 shares in the company, valued at $69,881,114. The trade was a 21.48% 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 have sold a total of 98,611 shares of company stock valued at $32,250,190 in the last 90 days. 0.31% of the stock is owned by corporate insiders.

Lam Research Stock Performance

Shares of Lam Research stock opened at $291.61 on Tuesday. The company's 50 day moving average price is $342.02 and its two-hundred day moving average price is $274.96. The firm has a market capitalization of $364.68 billion, a P/E ratio of 55.02, a P/E/G ratio of 1.81 and a beta of 1.80. Lam Research Corporation has a fifty-two week low of $90.93 and a fifty-two week high of $438.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.54 and a quick ratio of 1.77.

Lam Research Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Wednesday, June 17th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $1.04 annualized dividend and a dividend yield of 0.4%. Lam Research's dividend payout ratio (DPR) is 19.62%.

Analyst Upgrades and Downgrades

LRCX has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price target on Lam Research from $285.00 to $315.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Wall Street Zen downgraded shares of Lam Research from a "buy" rating to a "hold" rating in a research note on Sunday, May 10th. Evercore restated an "outperform" rating and issued a $355.00 target price on shares of Lam Research in a research report on Monday, July 20th. Cantor Fitzgerald set a $500.00 target price on shares of Lam Research and gave the company an "overweight" rating in a research report on Monday, June 29th. Finally, Seaport Research Partners assumed coverage on shares of Lam Research in a report on Monday, May 4th. They set a "buy" rating and a $300.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $363.37.

Lam Research Company 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.

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