Oakmont Corp increased its stake in Lam Research Corporation (NASDAQ:LRCX) by 3.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 249,369 shares of the semiconductor company’s stock after buying an additional 9,209 shares during the quarter. Lam Research Corporation comprises 7.8% of Oakmont Corp’s portfolio, making the stock its 8th largest position. Oakmont Corp owned about 0.15% of Lam Research Corporation worth $46,143,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of LRCX. Janus Henderson Group PLC boosted its holdings in Lam Research Corporation by 23,238.8% in the second quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock valued at $670,756,000 after purchasing an additional 4,722,348 shares during the last quarter. Harbour Capital Advisors LLC boosted its holdings in Lam Research Corporation by 13,054.2% in the second quarter. Harbour Capital Advisors LLC now owns 1,890,919 shares of the semiconductor company’s stock valued at $13,370,000 after purchasing an additional 1,876,544 shares during the last quarter. Old Mutual Global Investors UK Ltd. boosted its holdings in Lam Research Corporation by 1,696.5% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 878,960 shares of the semiconductor company’s stock valued at $124,311,000 after purchasing an additional 830,034 shares during the last quarter. GQG Partners LLC purchased a new position in Lam Research Corporation in the second quarter valued at about $87,726,000. Finally, Acadian Asset Management LLC boosted its holdings in Lam Research Corporation by 260.9% in the second quarter. Acadian Asset Management LLC now owns 626,623 shares of the semiconductor company’s stock valued at $88,624,000 after purchasing an additional 452,972 shares during the last quarter. Institutional investors and hedge funds own 93.05% of the company’s stock.
Lam Research Corporation (NASDAQ LRCX) traded up $5.36 on Friday, hitting $213.22. The stock had a trading volume of 2,259,400 shares, compared to its average volume of 2,081,593. The company has a market cap of $34,820.00, a price-to-earnings ratio of 17.90, a PEG ratio of 0.97 and a beta of 1.63. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24. Lam Research Corporation has a 1-year low of $97.79 and a 1-year high of $214.72.
Lam Research Corporation (NASDAQ:LRCX) last released its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. The business had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.46 billion. Lam Research Corporation had a return on equity of 30.19% and a net margin of 22.85%. The company’s revenue was up 51.8% compared to the same quarter last year. During the same period last year, the company posted $1.81 EPS. equities research analysts expect that Lam Research Corporation will post 14.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 6th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 5th. This is a positive change from Lam Research Corporation’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 0.94%. Lam Research Corporation’s dividend payout ratio (DPR) is currently 16.44%.
Lam Research Corporation announced that its Board of Directors has approved a stock buyback program on Tuesday, November 14th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, COO Timothy Archer sold 15,638 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $175.65, for a total transaction of $2,746,814.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen G. Newberry sold 750 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $175.00, for a total value of $131,250.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,419 shares of company stock valued at $7,167,497. Corporate insiders own 0.41% of the company’s stock.
A number of brokerages recently commented on LRCX. Deutsche Bank AG increased their price target on Lam Research Corporation to $230.00 and gave the company a “buy” rating in a report on Wednesday. B. Riley reissued a “buy” rating and issued a $250.00 price target on shares of Lam Research Corporation in a report on Tuesday. Royal Bank Of Canada increased their price target on Lam Research Corporation from $210.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday. Argus increased their price target on Lam Research Corporation from $196.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a $240.00 target price on shares of Lam Research Corporation in a report on Thursday, October 19th. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $212.89.
Lam Research Corporation 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.
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