Pinebridge Investments L.P. grew its position in Lam Research Co. (NASDAQ:LRCX) by 4.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,078 shares of the semiconductor company’s stock after purchasing an additional 540 shares during the period. Pinebridge Investments L.P.’s holdings in Lam Research were worth $2,407,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC grew its stake in shares of Lam Research by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 5,014,215 shares of the semiconductor company’s stock valued at $927,828,000 after buying an additional 271,546 shares during the period. Nordea Investment Management AB grew its stake in shares of Lam Research by 66.0% in the 3rd quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock valued at $291,488,000 after buying an additional 626,034 shares during the period. Old Mutual Global Investors UK Ltd. grew its stake in shares of Lam Research by 16.4% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,055,653 shares of the semiconductor company’s stock valued at $194,314,000 after buying an additional 148,375 shares during the period. Alkeon Capital Management LLC grew its stake in shares of Lam Research by 1.2% in the 3rd quarter. Alkeon Capital Management LLC now owns 827,493 shares of the semiconductor company’s stock valued at $153,119,000 after buying an additional 10,000 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Lam Research by 2.0% in the 3rd quarter. Legal & General Group Plc now owns 820,678 shares of the semiconductor company’s stock valued at $151,850,000 after buying an additional 15,912 shares during the period. 90.28% of the stock is owned by institutional investors and hedge funds.
In other news, insider Seshasayee Varadarajan sold 25,453 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $215.00, for a total value of $5,472,395.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Patrick J. Lord sold 264 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $216.08, for a total transaction of $57,045.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,767 shares of company stock worth $5,540,141. 0.41% of the stock is owned by company insiders.
LRCX has been the subject of a number of research analyst reports. Vetr cut shares of Lam Research from a “strong-buy” rating to a “buy” rating and set a $218.49 price objective for the company. in a research report on Wednesday, January 17th. Nomura raised shares of Lam Research from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $103.01 to $215.00 in a research report on Thursday, December 7th. Instinet raised shares of Lam Research from a “neutral” rating to a “buy” rating in a research report on Thursday, December 7th. BidaskClub cut shares of Lam Research from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 2nd. Finally, KeyCorp reaffirmed a “buy” rating and set a $225.00 price objective on shares of Lam Research in a research report on Sunday, November 19th. Two research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $232.41.
Shares of Lam Research Co. (NASDAQ:LRCX) opened at $193.44 on Wednesday. The stock has a market cap of $30,620.40, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 0.76 and a beta of 1.47. Lam Research Co. has a fifty-two week low of $114.82 and a fifty-two week high of $219.70. The company has a current ratio of 2.47, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29.
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, topping the Zacks’ 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 firm’s quarterly revenue was up 37.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.24 EPS. equities analysts predict that Lam Research Co. will post 16.74 earnings per share for the current year.
Lam Research announced that its Board of Directors has authorized a share buyback 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $2.00 dividend on an annualized basis and a yield of 1.03%. Lam Research’s dividend payout ratio (DPR) is presently 22.05%.
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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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