Rhumbline Advisers increased its holdings in Lam Research Co. (NASDAQ:LRCX) by 0.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 317,330 shares of the semiconductor company’s stock after purchasing an additional 459 shares during the quarter. Rhumbline Advisers’ holdings in Lam Research were worth $58,411,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Krilogy Financial LLC raised its stake in 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 in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Lam Research by 144.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock worth $122,000 after buying an additional 392 shares in the last quarter. Bollard Group LLC bought a new position in Lam Research in the third quarter worth approximately $130,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Lam Research in the third quarter worth approximately $134,000. Finally, Fuller & Thaler Asset Management Inc. bought a new position in Lam Research in the third quarter worth approximately $185,000. 92.49% of the stock is owned by institutional investors.
Lam Research Co. (NASDAQ LRCX) opened at $187.91 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.47 and a quick ratio of 2.09. Lam Research Co. has a 12-month low of $113.20 and a 12-month high of $219.70. The stock has a market capitalization of $30,620.31, a price-to-earnings ratio of 13.71, a P/E/G ratio of 0.76 and a beta of 1.47.
Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.68 by $0.66. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the prior year, the firm earned $2.24 EPS. The firm’s revenue was up 37.1% on a year-over-year basis. research analysts predict that Lam Research Co. will post 16.74 earnings per share for the current year.
Lam Research declared that its board has initiated a stock repurchase plan on Tuesday, November 14th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Tuesday, March 6th. Lam Research’s payout ratio is 22.05%.
In related news, insider Seshasayee Varadarajan sold 25,453 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total value of $5,472,395.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Patrick J. Lord sold 264 shares of the company’s 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 disclosure for this sale can be found here. Over the last three months, insiders sold 25,767 shares of company stock worth $5,540,141. 0.41% of the stock is owned by insiders.
A number of equities analysts recently commented on the stock. KeyCorp reissued a “buy” rating and issued a $225.00 price objective on shares of Lam Research in a research note on Sunday, November 19th. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price objective (up previously from $235.00) on shares of Lam Research in a research note on Thursday, January 25th. Vetr downgraded shares of Lam Research from a “buy” rating to a “hold” rating and set a $218.49 price objective for the company. in a research note on Tuesday, January 23rd. Stifel Nicolaus boosted their price objective on shares of Lam Research from $235.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada upped their price target on Lam Research to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $232.41.
WARNING: This story was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another publication, it was copied illegally and reposted in violation of international copyright laws. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/02/18/rhumbline-advisers-acquires-459-shares-of-lam-research-co-lrcx.html.
Lam Research Company 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.
Want to see what other hedge funds are holding LRCX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lam Research Co. (NASDAQ:LRCX).
Receive News & Ratings for Lam Research Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lam Research and related companies with MarketBeat.com's FREE daily email newsletter.