Employees Retirement System of Texas grew its holdings in Lam Research Co. (NASDAQ:LRCX) by 16.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 107,500 shares of the semiconductor company’s stock after acquiring an additional 15,000 shares during the period. Employees Retirement System of Texas’ holdings in Lam Research were worth $19,788,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Krilogy Financial LLC grew its holdings in shares of Lam Research by 91.6% in the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 263 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Lam Research by 144.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 392 shares during the last quarter. Bollard Group LLC bought a new stake in shares of Lam Research in the 3rd quarter worth about $130,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Lam Research in the 3rd quarter worth about $134,000. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Lam Research in the 3rd quarter worth about $185,000. Institutional investors own 90.28% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. BidaskClub raised shares of Lam Research from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 10th. DA Davidson reissued a “buy” rating and set a $235.00 price objective on shares of Lam Research in a report on Monday, January 22nd. Royal Bank of Canada increased their price objective on shares of Lam Research to $245.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. B. Riley reissued a “buy” rating and set a $250.00 price objective on shares of Lam Research in a report on Monday, January 22nd. Finally, ICAP reissued a “buy” rating and set a $240.00 price objective on shares of Lam Research in a report on Thursday, January 25th. Two research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $232.41.
Lam Research Co. (NASDAQ LRCX) opened at $187.91 on Monday. The stock has a market cap of $30,620.40, a PE ratio of 13.71, a PEG ratio of 0.76 and a beta of 1.47. 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 one year low of $113.65 and a one year high of $219.70.
Lam Research (NASDAQ:LRCX) last issued 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. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.57 billion. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The company’s revenue for the quarter was up 37.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.24 EPS. sell-side analysts expect that Lam Research Co. will post 16.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Stockholders of record on Wednesday, March 7th will be paid 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 dividend payout ratio (DPR) is presently 22.05%.
Lam Research announced that its Board of Directors has authorized a share 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. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, VP Patrick J. Lord sold 264 shares of the stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Seshasayee Varadarajan sold 25,453 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $215.00, for a total transaction of $5,472,395.00. The disclosure for this sale can be found here. Insiders sold a total of 25,767 shares of company stock worth $5,540,141 in the last ninety days. Insiders own 0.41% of the company’s stock.
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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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