Alkeon Capital Management LLC reduced its position in Lam Research Co. (NASDAQ:LRCX) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 816,069 shares of the semiconductor company’s stock after selling 11,424 shares during the period. Alkeon Capital Management LLC owned approximately 0.50% of Lam Research worth $150,214,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LRCX. Schroder Investment Management Group lifted its position in Lam Research by 3,248.5% during the 3rd quarter. Schroder Investment Management Group now owns 703,625 shares of the semiconductor company’s stock worth $127,933,000 after acquiring an additional 682,612 shares in the last quarter. Nordea Investment Management AB lifted its position in Lam Research by 66.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock worth $291,488,000 after acquiring an additional 626,034 shares in the last quarter. KBC Group NV lifted its position in Lam Research by 732.8% during the 4th quarter. KBC Group NV now owns 316,776 shares of the semiconductor company’s stock worth $58,309,000 after acquiring an additional 278,737 shares in the last quarter. Graticule Asia Macro Advisors LLC acquired a new position in Lam Research during the 3rd quarter worth approximately $51,400,000. Finally, Janus Henderson Group PLC lifted its position in Lam Research by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,014,215 shares of the semiconductor company’s stock worth $927,828,000 after acquiring an additional 271,546 shares in the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently commented on LRCX shares. Zacks Investment Research lowered Lam Research from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. boosted their price target on Lam Research from $230.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Stifel Nicolaus boosted their price target on Lam Research from $235.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. UBS upgraded Lam Research from a “neutral” rating to a “positive” rating in a report on Tuesday, January 16th. Finally, Deutsche Bank restated a “buy” rating and set a $240.00 price objective on shares of Lam Research in a report on Thursday, January 25th. Twenty-five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $242.23.
Shares of LRCX stock opened at $219.13 on Wednesday. Lam Research Co. has a twelve month low of $123.96 and a twelve month high of $234.88. 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 firm has a market capitalization of $36,162.42, a P/E ratio of 24.16, a PEG ratio of 0.89 and a beta of 1.43.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.68 by $0.66. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the business earned $2.24 EPS. The business’s quarterly revenue was up 37.1% on a year-over-year basis. sell-side analysts predict that Lam Research Co. will post 16.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 7th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.91%. Lam Research’s dividend payout ratio (DPR) is 22.05%.
Lam Research declared that its Board of Directors has approved a share buyback program on Tuesday, March 6th 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. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, insider Seshasayee Varadarajan sold 25,453 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total transaction of $5,472,395.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard A. Gottscho sold 16,866 shares of the company’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $210.02, for a total value of $3,542,197.32. The disclosure for this sale can be found here. Insiders sold a total of 50,619 shares of company stock valued at $10,790,107 over the last quarter. Company insiders own 0.41% of the company’s stock.
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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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