Rainier Investment Management LLC decreased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 22.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,970 shares of the semiconductor company’s stock after selling 4,800 shares during the period. Rainier Investment Management LLC’s holdings in Lam Research were worth $3,124,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in LRCX. Numeric Investors LLC bought a new stake in shares of Lam Research during the 2nd quarter valued at about $410,000. First Allied Advisory Services Inc. boosted its stake in shares of Lam Research by 6.5% during the 2nd quarter. First Allied Advisory Services Inc. now owns 1,940 shares of the semiconductor company’s stock valued at $278,000 after purchasing an additional 118 shares in the last quarter. Prudential PLC boosted its stake in Lam Research by 14.3% during the second quarter. Prudential PLC now owns 3,200 shares of the semiconductor company’s stock worth $453,000 after acquiring an additional 400 shares in the last quarter. Sciencast Management LP bought a new stake in Lam Research during the second quarter worth about $246,000. Finally, Bluefin Trading LLC bought a new stake in Lam Research during the second quarter worth about $6,923,000. 92.92% of the stock is currently owned by hedge funds and other institutional investors.
Lam Research Co. (LRCX) opened at $179.06 on Monday. The company has a quick ratio of 2.09, a current ratio of 2.47 and a debt-to-equity ratio of 0.29. The stock has a market cap of $29,178.27, a PE ratio of 13.06, a price-to-earnings-growth ratio of 0.72 and a beta of 1.47. Lam Research Co. has a twelve month low of $113.20 and a twelve month high of $219.70.
Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.68 by $0.66. The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The business’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.24 earnings per share. sell-side analysts predict that Lam Research Co. will post 16.74 EPS for the current fiscal year.
Lam Research declared that its board has authorized a stock repurchase plan on Tuesday, November 14th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th were issued a $0.50 dividend. The ex-dividend date was Tuesday, December 5th. This is a boost from Lam Research’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 1.12%. Lam Research’s payout ratio is 22.05%.
In other Lam Research news, insider Martin B. Anstice sold 21,955 shares of Lam Research stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $211.16, for a total value of $4,636,017.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael R. Cannon sold 9,000 shares of Lam Research stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $212.43, for a total transaction of $1,911,870.00. The disclosure for this sale can be found here. Insiders sold 56,722 shares of company stock valued at $12,088,028 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.
Several research firms recently commented on LRCX. BidaskClub lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. ValuEngine raised shares of Lam Research from a “hold” rating to a “buy” rating in a research note on Friday. ICAP reissued a “buy” rating and set a $240.00 price objective on shares of Lam Research in a research note on Thursday, January 25th. DA Davidson reissued a “buy” rating and set a $235.00 price objective on shares of Lam Research in a research note on Monday, January 22nd. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $230.00 price objective on shares of Lam Research in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $232.41.
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Lam Research 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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