Bank of Montreal Can lowered its position in shares of Lam Research Co. (NASDAQ:LRCX) by 22.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,204,140 shares of the semiconductor company’s stock after selling 351,943 shares during the period. Bank of Montreal Can owned about 0.74% of Lam Research worth $221,647,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Krilogy Financial LLC increased its holdings in shares of Lam Research by 91.6% in the third quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock worth $102,000 after buying an additional 263 shares during the period. Odey Holdings AG increased its holdings in shares of Lam Research by 9.9% in the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock worth $115,000 after buying an additional 73 shares during the period. Bollard Group LLC purchased a new position in shares of Lam Research in the third quarter worth about $130,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Lam Research in the third quarter worth about $134,000. Finally, Sun Life Financial INC increased its holdings in shares of Lam Research by 10,672.7% in the second quarter. Sun Life Financial INC now owns 1,185 shares of the semiconductor company’s stock worth $168,000 after buying an additional 1,174 shares during the period. 93.45% of the stock is owned by hedge funds and other institutional investors.
In other Lam Research news, VP Patrick J. Lord sold 264 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $216.08, for a total transaction of $57,045.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Martin B. Anstice sold 21,955 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $211.16, for a total value of $4,636,017.80. The disclosure for this sale can be found here. Insiders have sold a total of 31,269 shares of company stock worth $6,615,633 in the last quarter. Company insiders own 0.41% of the company’s stock.
Lam Research Co. (NASDAQ:LRCX) traded up $1.88 during mid-day trading on Tuesday, hitting $190.39. The company’s stock had a trading volume of 4,250,617 shares, compared to its average volume of 3,000,000. Lam Research Co. has a 1 year low of $108.46 and a 1 year high of $219.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.31 and a quick ratio of 2.83. The stock has a market cap of $30,830.00, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 0.86 and a beta of 1.57.
Lam Research (NASDAQ:LRCX) last posted its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. Lam Research had a return on equity of 30.19% and a net margin of 22.85%. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter in the prior year, the business earned $1.81 EPS. The business’s revenue for the quarter was up 51.8% on a year-over-year basis. research analysts forecast that Lam Research Co. will post 14.74 earnings per share for the current year.
Lam Research declared that its board has authorized a share repurchase program on Tuesday, November 14th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board 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 dividend of $0.50 per share. This is an increase from Lam Research’s previous quarterly dividend of $0.45. The ex-dividend date was Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.05%. Lam Research’s dividend payout ratio is 18.26%.
LRCX has been the topic of several analyst reports. Deutsche Bank lifted their price objective on Lam Research to $230.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. KeyCorp reiterated a “buy” rating and issued a $225.00 price objective on shares of Lam Research in a report on Sunday, November 19th. DA Davidson reiterated a “buy” rating and issued a $215.00 price objective on shares of Lam Research in a report on Thursday, October 12th. Royal Bank of Canada lifted their price objective on Lam Research from $210.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, November 15th. Finally, B. Riley reiterated a “buy” rating and issued a $250.00 price objective on shares of Lam Research in a report on Tuesday, November 14th. Two investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $220.65.
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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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