Clark Capital Management Group Inc. boosted its stake in Lam Research Co. (NASDAQ:LRCX) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,585 shares of the semiconductor company’s stock after purchasing an additional 7,102 shares during the quarter. Clark Capital Management Group Inc. owned approximately 0.07% of Lam Research worth $22,012,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Krilogy Financial LLC raised its holdings in shares of Lam Research by 91.6% during the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock valued at $102,000 after buying an additional 263 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in 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 period. Focused Wealth Management Inc purchased a new position in Lam Research in the 4th quarter worth approximately $140,000. Fuller & Thaler Asset Management Inc. purchased a new position in Lam Research in the 3rd quarter worth approximately $185,000. Finally, Stephens Inc. AR increased its stake in Lam Research by 100.0% in the 3rd quarter. Stephens Inc. AR now owns 1,072 shares of the semiconductor company’s stock worth $198,000 after purchasing an additional 536 shares during the period. Institutional investors and hedge funds own 90.04% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. BidaskClub upgraded Lam Research from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 13th. Vetr lowered Lam Research from a “strong-buy” rating to a “buy” rating and set a $240.39 price target on the stock. in a research report on Monday, March 12th. FBN Securities began coverage on Lam Research in a report on Thursday, March 15th. They issued an “outperform” rating and a $300.00 target price on the stock. Bank of America began coverage on Lam Research in a report on Wednesday, March 21st. They issued a “buy” rating and a $305.00 target price on the stock. Finally, Mizuho initiated coverage on Lam Research in a report on Tuesday, March 27th. They issued a “buy” rating and a $250.00 target price on the stock. One investment analyst has rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $245.14.
Shares of NASDAQ LRCX opened at $190.65 on Friday. 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 Co. has a fifty-two week low of $124.91 and a fifty-two week high of $234.88. The company has a market capitalization of $32,862.63, a PE ratio of 19.10, a price-to-earnings-growth ratio of 0.68 and a beta of 1.41.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $4.34 EPS for the quarter, topping the consensus estimate of $3.68 by $0.66. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. Lam Research’s quarterly revenue was up 37.1% on a year-over-year basis. During the same period last year, the business posted $2.24 EPS. equities research analysts anticipate that Lam Research Co. will post 16.76 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, March 6th. This represents a $2.00 annualized dividend and a yield of 1.05%. Lam Research’s dividend payout ratio (DPR) is presently 20.04%.
Lam Research declared that its Board of Directors has initiated a share buyback program on Tuesday, March 6th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, insider Seshasayee Varadarajan sold 25,453 shares of the firm’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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard A. Gottscho sold 16,866 shares of the firm’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $210.02, for a total value of $3,542,197.32. The disclosure for this sale can be found here. Insiders have sold a total of 88,393 shares of company stock worth $19,222,556 in the last ninety days. Insiders own 0.41% of the company’s stock.
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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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