American Trust Investment Advisors LLC acquired a new position in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 12,735 shares of the semiconductor company’s stock, valued at approximately $2,344,000. Lam Research comprises about 1.8% of American Trust Investment Advisors LLC’s holdings, making the stock its 22nd biggest holding.
Other institutional investors and hedge funds have also bought and sold shares of the company. Krilogy Financial LLC boosted its holdings in shares of Lam Research by 91.6% in the third quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock worth $102,000 after buying an additional 263 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Lam Research by 144.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock worth $122,000 after buying an additional 392 shares during the last quarter. Bollard Group LLC purchased a new position in shares of Lam Research in the third quarter worth approximately $130,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Lam Research in the third quarter worth approximately $134,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Lam Research in the third quarter worth approximately $185,000. 92.92% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on LRCX. KeyCorp reissued a “buy” rating and issued a $225.00 price objective on shares of Lam Research in a report on Sunday, November 19th. Vetr downgraded shares of Lam Research from a “buy” rating to a “hold” rating and set a $218.49 price objective on the stock. in a report on Tuesday, January 23rd. B. Riley reaffirmed a “buy” rating and set a $250.00 price target on shares of Lam Research in a report on Tuesday, November 14th. ICAP reaffirmed a “buy” rating and set a $240.00 price target on shares of Lam Research in a report on Thursday, January 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price target (up previously from $235.00) on shares of Lam Research in a report on Thursday, January 25th. Two analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Lam Research has a consensus rating of “Buy” and a consensus target price of $232.41.
Lam Research Co. (LRCX) traded up $0.84 during midday trading on Monday, reaching $179.90. 2,385,870 shares of the company’s stock traded hands, compared to its average volume of 3,646,590. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 2.09. The stock has a market capitalization of $29,210.00, a price-to-earnings ratio of 19.87, a price-to-earnings-growth ratio of 0.72 and a beta of 1.47. Lam Research Co. has a 52 week low of $113.20 and a 52 week high of $219.70.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $4.34 EPS for the quarter, topping the consensus estimate of $3.68 by $0.66. The company had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.57 billion. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. Lam Research’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.24 earnings per share. research analysts anticipate that Lam Research Co. will post 16.74 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 6th were paid a dividend of $0.50 per share. This is a positive change from Lam Research’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Tuesday, December 5th. Lam Research’s payout ratio is currently 22.03%.
Lam Research declared that its Board of Directors has approved a share buyback program on Tuesday, November 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In related news, Director Michael R. Cannon sold 9,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $212.43, for a total value of $1,911,870.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Seshasayee Varadarajan sold 25,453 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total transaction of $5,472,395.00. The disclosure for this sale can be found here. Insiders have sold 56,722 shares of company stock valued at $12,088,028 over the last three months. Insiders own 0.41% of the company’s stock.
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Lam Research 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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