Edgestream Partners L.P. purchased a new stake in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, Holdings Channel reports. The firm purchased 2,260 shares of the semiconductor company’s stock, valued at approximately $416,000.
A number of other large investors have also recently added to or reduced their stakes in LRCX. Raymond James Financial Services Advisors Inc. lifted its position in shares of Lam Research by 45.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 7,480 shares of the semiconductor company’s stock worth $1,059,000 after purchasing an additional 2,345 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Lam Research during the second quarter worth approximately $302,000. Intl Fcstone Inc. acquired a new position in shares of Lam Research during the second quarter worth approximately $242,000. Shell Asset Management Co. lifted its position in shares of Lam Research by 171.5% during the third quarter. Shell Asset Management Co. now owns 24,769 shares of the semiconductor company’s stock worth $1,850,000 after purchasing an additional 15,647 shares in the last quarter. Finally, PGGM Investments lifted its position in shares of Lam Research by 2.3% during the third quarter. PGGM Investments now owns 102,214 shares of the semiconductor company’s stock worth $18,914,000 after purchasing an additional 2,292 shares in the last quarter. Hedge funds and other institutional investors own 90.28% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. KeyCorp reiterated a “buy” rating and set a $225.00 target price on shares of Lam Research in a research report on Sunday, November 19th. Needham & Company LLC reissued a “buy” rating and set a $270.00 price target (up from $235.00) on shares of Lam Research in a research note on Thursday, January 25th. Vetr downgraded shares of Lam Research from a “buy” rating to a “hold” rating and set a $218.49 price target for the company. in a research note on Tuesday, January 23rd. Stifel Nicolaus boosted their price target on shares of Lam Research from $235.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada upped their target price on shares of Lam Research to $245.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Lam Research currently has a consensus rating of “Buy” and an average price target of $232.41.
In other Lam Research news, VP Patrick J. Lord sold 264 shares of the stock in a transaction on Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Seshasayee Varadarajan sold 25,453 shares of the stock in a transaction on Tuesday, January 23rd. The shares were 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. In the last quarter, insiders sold 25,767 shares of company stock valued at $5,540,141. Corporate insiders own 0.41% of the company’s stock.
Lam Research Co. (LRCX) opened at $187.91 on Tuesday. Lam Research Co. has a 1-year low of $113.65 and a 1-year high of $219.70. The company has a market cap of $30,620.40, a price-to-earnings ratio of 20.72, a P/E/G ratio of 0.76 and a beta of 1.47. The company has a current ratio of 2.47, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29.
Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.68 by $0.66. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the prior year, the company posted $2.24 earnings per share. The firm’s revenue was up 37.1% on a year-over-year basis. analysts forecast that Lam Research Co. will post 16.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Tuesday, March 6th. Lam Research’s payout ratio is 22.05%.
Lam Research declared that its Board of Directors has authorized a stock buyback plan on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
About Lam Research
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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