National Pension Service reduced its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 169,705 shares of the semiconductor company’s stock after selling 4,990 shares during the period. National Pension Service owned approximately 0.10% of Lam Research worth $31,238,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. BerganKDV Wealth Management LLC lifted its stake in shares of Lam Research by 22.7% during the fourth quarter. BerganKDV Wealth Management LLC now owns 4,121 shares of the semiconductor company’s stock worth $759,000 after buying an additional 762 shares during the period. E&G Advisors LP lifted its stake in shares of Lam Research by 101.6% during the fourth quarter. E&G Advisors LP now owns 6,250 shares of the semiconductor company’s stock worth $1,150,000 after buying an additional 3,150 shares during the period. Leavell Investment Management Inc. lifted its stake in shares of Lam Research by 3.9% during the fourth quarter. Leavell Investment Management Inc. now owns 9,350 shares of the semiconductor company’s stock worth $1,721,000 after buying an additional 350 shares during the period. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Lam Research during the fourth quarter worth $589,000. Finally, Neville Rodie & Shaw Inc. lifted its stake in shares of Lam Research by 3.7% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 47,881 shares of the semiconductor company’s stock worth $8,814,000 after buying an additional 1,721 shares during the period. Institutional investors and hedge funds own 93.45% of the company’s stock.
In other Lam Research news, VP Patrick J. Lord sold 264 shares of Lam Research stock in a transaction on Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Martin B. Anstice sold 21,955 shares of Lam Research stock in a transaction on Friday, November 17th. The shares were sold at an average price of $211.16, for a total transaction of $4,636,017.80. The disclosure for this sale can be found here. Insiders sold 31,269 shares of company stock valued at $6,615,633 in the last ninety days. 0.41% of the stock is owned by corporate insiders.
Lam Research Co. (NASDAQ LRCX) opened at $205.45 on Friday. 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 Co. has a fifty-two week low of $110.50 and a fifty-two week high of $219.70. The stock has a market cap of $33,270.00, a price-to-earnings ratio of 18.76, a P/E/G ratio of 0.94 and a beta of 1.57.
Lam Research (NASDAQ:LRCX) last issued its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $2.46 billion. During the same quarter last year, the company posted $1.81 earnings per share. The firm’s revenue was up 51.8% compared to the same quarter last year. analysts forecast that Lam Research Co. will post 14.74 EPS for the current year.
Lam Research declared that its board has authorized a share repurchase plan on Tuesday, November 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 6th were issued a $0.50 dividend. This is a boost 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 yield of 0.97%. Lam Research’s payout ratio is presently 18.26%.
Several equities research analysts have recently commented on LRCX shares. Deutsche Bank lifted their price objective on shares of Lam Research to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. KeyCorp reiterated a “buy” rating and set a $225.00 price objective on shares of Lam Research in a research note on Sunday, November 19th. DA Davidson reiterated a “buy” rating and set a $215.00 price objective on shares of Lam Research in a research note on Thursday, October 12th. Royal Bank of Canada lifted their price objective 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 reiterated a “buy” rating and set a $250.00 price objective on shares of Lam Research in a research note 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 given a strong buy rating to the company’s stock. Lam Research has a consensus rating of “Buy” and an average price target of $220.80.
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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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