Yorktown Management & Research Co Inc reduced its stake in shares of Lam Research Corporation (NASDAQ:LRCX) by 16.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,500 shares of the semiconductor company’s stock after selling 2,000 shares during the quarter. Yorktown Management & Research Co Inc’s holdings in Lam Research Corporation were worth $1,943,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Odey Holdings AG grew its position in shares of Lam Research Corporation by 9.9% in the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 73 shares during the last quarter. BDO Wealth Advisors LLC acquired a new stake in Lam Research Corporation during the second quarter worth approximately $118,000. Bollard Group LLC acquired a new stake in Lam Research Corporation during the third quarter worth approximately $130,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Lam Research Corporation during the second quarter worth approximately $134,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Lam Research Corporation during the third quarter worth approximately $134,000. Institutional investors own 93.61% of the company’s stock.
Shares of Lam Research Corporation (LRCX) traded up $3.89 during trading hours on Tuesday, reaching $218.99. 1,226,494 shares of the company’s stock were exchanged, compared to its average volume of 2,080,460. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24. Lam Research Corporation has a 12-month low of $97.79 and a 12-month high of $217.00. The company has a market cap of $34,830.00, a price-to-earnings ratio of 18.13, a P/E/G ratio of 0.96 and a beta of 1.63.
Lam Research Corporation (NASDAQ:LRCX) last released its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. Lam Research Corporation had a net margin of 22.85% and a return on equity of 30.19%. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the prior year, the company posted $1.81 EPS. The company’s revenue was up 51.8% compared to the same quarter last year. analysts expect that Lam Research Corporation will post 14.74 EPS for the current year.
Lam Research Corporation announced that its board has initiated a share repurchase program on Tuesday, November 14th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 5th. This is an increase from Lam Research Corporation’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 0.91%. Lam Research Corporation’s dividend payout ratio is presently 16.44%.
A number of research firms have weighed in on LRCX. DA Davidson reaffirmed a “buy” rating and set a $175.00 price target on shares of Lam Research Corporation in a research note on Wednesday, July 26th. B. Riley reissued a “buy” rating and issued a $220.00 target price on shares of Lam Research Corporation in a research note on Thursday, July 27th. Cowen and Company reaffirmed an “outperform” rating and set a $185.00 price target (up from $150.00) on shares of Lam Research Corporation in a report on Thursday, July 27th. Needham & Company LLC raised their price target on shares of Lam Research Corporation from $175.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Lam Research Corporation in a report on Thursday, July 27th. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $212.89.
In other Lam Research Corporation 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 transaction of $1,911,870.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $195.09, for a total transaction of $146,317.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,419 shares of company stock worth $9,079,367. Corporate insiders own 0.41% of the company’s stock.
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Lam Research Corporation 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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