Biltmore Family Office LLC bought a new position in shares of Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 1,311 shares of the semiconductor company’s stock, valued at approximately $242,000.
Several other institutional investors have also recently made changes to their positions in the stock. Schroder Investment Management Group grew its position in shares of Lam Research by 3,248.5% during the 3rd quarter. Schroder Investment Management Group now owns 703,625 shares of the semiconductor company’s stock worth $127,933,000 after buying an additional 682,612 shares during the period. Nordea Investment Management AB grew its position in shares of Lam Research by 66.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock worth $291,488,000 after buying an additional 626,034 shares during the period. KBC Group NV grew its position in shares of Lam Research by 732.8% during the 4th quarter. KBC Group NV now owns 316,776 shares of the semiconductor company’s stock worth $58,309,000 after buying an additional 278,737 shares during the period. Graticule Asia Macro Advisors LLC acquired a new stake in shares of Lam Research during the 3rd quarter worth approximately $51,400,000. Finally, Janus Henderson Group PLC grew its position in shares of Lam Research by 5.7% during the 3rd quarter. Janus Henderson Group PLC now owns 5,014,215 shares of the semiconductor company’s stock worth $927,828,000 after buying an additional 271,546 shares during the period. Institutional investors and hedge funds own 90.04% of the company’s stock.
In related news, SVP Sarah A. O’dowd sold 1,835 shares of the business’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $212.64, for a total transaction of $390,194.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Richard A. Gottscho sold 16,866 shares of the company’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $210.02, for a total transaction of $3,542,197.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,393 shares of company stock worth $19,222,556. 0.41% of the stock is owned by corporate insiders.
Several equities research analysts have recently commented on LRCX shares. Vetr cut shares of Lam Research from a “strong-buy” rating to a “buy” rating and set a $215.24 price target for the company. in a research report on Wednesday, January 10th. BidaskClub raised shares of Lam Research from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 10th. UBS raised shares of Lam Research from a “neutral” rating to a “positive” rating in a research note on Tuesday, January 16th. Susquehanna Bancshares raised shares of Lam Research from a “neutral” rating to a “positive” rating and lifted their price objective for the stock from $200.00 to $250.00 in a research note on Tuesday, January 16th. Finally, Zacks Investment Research lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. One research analyst has rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $245.14.
Shares of NASDAQ LRCX traded down $4.37 during midday trading on Friday, reaching $190.65. The company’s stock had a trading volume of 3,123,943 shares, compared to its average volume of 3,572,359. The company has a market capitalization of $31,066.80, a PE ratio of 19.10, a price-to-earnings-growth ratio of 0.64 and a beta of 1.41. 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 quick ratio of 2.09, a current ratio of 2.47 and a debt-to-equity ratio of 0.29.
Lam Research (NASDAQ:LRCX) last issued its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.68 by $0.66. The business had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The firm’s revenue for the quarter was up 37.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.24 earnings per share. sell-side analysts expect that Lam Research Co. will post 16.76 EPS for the current year.
Lam Research declared that its board has approved a stock buyback plan on Tuesday, March 6th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, March 6th. This represents a $2.00 dividend on an annualized basis and a yield of 1.05%. Lam Research’s payout ratio is 20.04%.
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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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