Fulcrum Asset Management LLP increased its stake in Lam Research Corporation (NASDAQ:LRCX – Free Report) by 148.5% in the third quarter, HoldingsChannel reports. The fund owned 21,206 shares of the semiconductor company’s stock after purchasing an additional 12,672 shares during the period. Fulcrum Asset Management LLP’s holdings in Lam Research were worth $6,868,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of LRCX. Allspring Global Investments Holdings LLC grew its holdings in shares of Lam Research by 17.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 700,385 shares of the semiconductor company’s stock worth $238,201,000 after purchasing an additional 102,283 shares during the last quarter. StoneRidge PMG Advisors LLC purchased a new position in shares of Lam Research in the third quarter worth $2,426,000. Burton Enright Welch purchased a new position in shares of Lam Research in the third quarter worth $405,000. Beverly Hills Private Wealth LLC raised its holdings in Lam Research by 31.1% during the 3rd quarter. Beverly Hills Private Wealth LLC now owns 935 shares of the semiconductor company’s stock valued at $307,000 after buying an additional 222 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC raised its holdings in Lam Research by 6.1% during the 3rd quarter. Bryn Mawr Trust Advisors LLC now owns 9,816 shares of the semiconductor company’s stock valued at $3,225,000 after buying an additional 567 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.
Lam Research Stock Performance
Lam Research stock opened at $200.44 on Monday. Lam Research Corporation has a fifty-two week low of $135.50 and a fifty-two week high of $438.50. The stock’s 50 day simple moving average is $284.37 and its two-hundred day simple moving average is $283.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.86 and a current ratio of 2.48. The stock has a market cap of $250.38 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 0.74 and a beta of 1.97.
Lam Research (NASDAQ:LRCX – Get Free Report) last announced its earnings results on Wednesday, October 21st. The semiconductor company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.02. Lam Research had a return on equity of 72.15% and a net margin of 32.34%. The firm had revenue of $8.22 billion during the quarter, compared to analyst estimates of $8.14 billion. During the same quarter in the prior year, the company earned $1.26 EPS. The business’s revenue was up 54.4% compared to the same quarter last year. As a group, analysts expect that Lam Research Corporation will post 9.59 earnings per share for the current fiscal year.
Lam Research Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 6th. Investors of record on Wednesday, December 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, December 2nd. Lam Research’s dividend payout ratio is presently 19.67%.
Lam Research declared that its Board of Directors has initiated a stock buyback program on Thursday, November 5th that allows the company to repurchase $25 billion in shares. This repurchase authorization allows the semiconductor company to reacquire up to 9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Key Stories Impacting Lam Research
Here are the key news stories impacting Lam Research this week:
- Positive Sentiment: The authorization allows Lam Research to repurchase up to about 9% of its shares. Investors may view the plan as a sign of management confidence and a potential source of support for per-share earnings. Lam Research Shares Gain on $25 Billion Buyback Authorization
- Positive Sentiment: The company also declared a quarterly dividend of $0.33 per share, payable January 6 to shareholders of record December 2. Lam Research Corporation Announces $25 Billion Share Repurchase Authorization and Declares Quarterly Dividend
- Neutral Sentiment: The buyback has drawn attention to LRCX’s significant presence in semiconductor, technology and Nasdaq-100 funds; overlapping holdings could amplify the stock’s effect on investors’ portfolios in either direction. Own a Semiconductor ETF? Lam Research’s Buyback Move Affects You
- Negative Sentiment: Broader chip-sector volatility remains a risk: recent coverage cited concerns about AI-related spending, possible capital-expenditure slowdowns, regulation and investor profit-taking. Those worries could temper gains if they persist. Chip Stocks Just Had Their Second-Worst Day on Record
Wall Street Analyst Weigh In
LRCX has been the subject of several analyst reports. Zacks Research cut shares of Lam Research from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 22nd. Jefferies Financial Group set a $335.00 price objective on shares of Lam Research and gave the company a “buy” rating in a research report on Thursday, July 30th. HSBC restated a “hold” rating and issued a $333.00 price objective on shares of Lam Research in a research report on Monday, July 27th. Citigroup reaffirmed a “buy” rating and set a $435.00 price objective (down from $450.00) on shares of Lam Research in a research note on Thursday, October 22nd. Finally, Weiss Ratings lowered shares of Lam Research from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Twenty-six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $360.23.
Read Our Latest Analysis on Lam Research
Insider Buying and Selling at Lam Research
In related news, Director Bethany Mayer sold 9,557 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $314.74, for a total value of $3,007,970.18. Following the sale, the director directly owned 20,995 shares of the company’s stock, valued at $6,607,966.30. This represents a 31.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ava Harter sold 5,000 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $302.46, for a total value of $1,512,300.00. Following the completion of the transaction, the insider owned 42,462 shares of the company’s stock, valued at approximately $12,843,056.52. This trade represents a 10.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.31% of the stock is owned by corporate insiders.
Lam Research Company Profile
Lam Research is a global supplier of equipment and services used to manufacture semiconductors. Its products help chipmakers create and process the microscopic structures that form integrated circuits.
The company’s wafer fabrication equipment is used for processes including etch, thin-film deposition and wafer cleaning. Lam also provides services such as equipment maintenance, upgrades, spare parts and other support for chip manufacturing operations.
Founded in 1980 and headquartered in Fremont, California, Lam Research serves semiconductor manufacturers around the world.
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