Jaffetilchin Investment Partners LLC cut its position in Lam Research Co. (NASDAQ:LRCX) by 13.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,554 shares of the semiconductor company’s stock after selling 1,194 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Lam Research were worth $1,390,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of LRCX. Signature Estate & Investment Advisors LLC grew its position in Lam Research by 15.2% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 3,986 shares of the semiconductor company’s stock worth $738,000 after purchasing an additional 527 shares during the last quarter. Putnam FL Investment Management Co. purchased a new position in Lam Research during the 3rd quarter worth $15,390,000. Epoch Investment Partners Inc. grew its position in Lam Research by 0.9% during the 3rd quarter. Epoch Investment Partners Inc. now owns 64,708 shares of the semiconductor company’s stock worth $11,974,000 after purchasing an additional 600 shares during the last quarter. Financial Enhancement Group LLC purchased a new position in Lam Research during the 3rd quarter worth $295,000. Finally, 361 Capital LLC grew its position in Lam Research by 55.6% during the 2nd quarter. 361 Capital LLC now owns 30,606 shares of the semiconductor company’s stock worth $4,329,000 after purchasing an additional 10,938 shares during the last quarter. 93.45% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently commented on LRCX shares. Deutsche Bank raised their target price on shares of Lam Research to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. KeyCorp restated a “buy” rating and issued a $225.00 target price on shares of Lam Research in a research note on Sunday, November 19th. DA Davidson restated a “buy” rating and issued a $215.00 target price on shares of Lam Research in a research note on Thursday, October 12th. Royal Bank of Canada raised their target price on shares of Lam Research from $210.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 15th. Finally, B. Riley restated a “buy” rating and issued a $250.00 target price on shares of Lam Research in a research note on Tuesday, November 14th. Two equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $220.65.
In other news, VP Patrick J. Lord sold 264 shares of Lam Research stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $216.08, for a total transaction of $57,045.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael R. Cannon sold 9,000 shares of Lam Research stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $212.43, for a total transaction of $1,911,870.00. The disclosure for this sale can be found here. Insiders have sold a total of 31,269 shares of company stock valued at $6,615,633 over the last 90 days. 0.41% of the stock is currently owned by insiders.
Lam Research Co. (NASDAQ LRCX) traded up $1.88 during trading hours on Wednesday, reaching $190.39. 4,251,100 shares of the company’s stock traded hands, compared to its average volume of 2,764,390. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.31 and a quick ratio of 2.83. Lam Research Co. has a 52-week low of $108.46 and a 52-week high of $219.70. The stock has a market cap of $33,300.00, a P/E ratio of 17.39, a P/E/G 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, beating the Thomson Reuters’ consensus estimate of $3.27 by $0.19. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the firm posted $1.81 EPS. The firm’s revenue for the quarter was up 51.8% on a year-over-year basis. sell-side analysts predict that Lam Research Co. will post 14.74 EPS for the current year.
The firm 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. This represents a $2.00 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Tuesday, December 5th. Lam Research’s dividend payout ratio (DPR) is 18.26%.
Lam Research announced that its Board of Directors has approved a share repurchase program on Tuesday, November 14th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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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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