Global Financial Private Capital LLC raised its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 23.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,934 shares of the semiconductor company’s stock after purchasing an additional 3,418 shares during the period. Global Financial Private Capital LLC’s holdings in Lam Research were worth $3,302,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in shares of Lam Research by 5.7% during the third quarter. Janus Henderson Group PLC now owns 5,014,215 shares of the semiconductor company’s stock valued at $927,828,000 after acquiring an additional 271,546 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Lam Research by 66.0% during the third quarter. Nordea Investment Management AB now owns 1,575,269 shares of the semiconductor company’s stock valued at $291,488,000 after acquiring an additional 626,034 shares during the period. Old Mutual Global Investors UK Ltd. lifted its holdings in shares of Lam Research by 16.4% during the fourth 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 acquiring an additional 148,375 shares during the period. Alkeon Capital Management LLC lifted its holdings in shares of Lam Research by 1.2% during the third quarter. Alkeon Capital Management LLC now owns 827,493 shares of the semiconductor company’s stock valued at $153,119,000 after acquiring an additional 10,000 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Lam Research by 2.0% during the third quarter. Legal & General Group Plc now owns 820,678 shares of the semiconductor company’s stock valued at $151,850,000 after acquiring an additional 15,912 shares during the period. Institutional investors own 90.28% of the company’s stock.
LRCX has been the subject of a number of research reports. BidaskClub lowered Lam Research from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Susquehanna Bancshares upgraded Lam Research from a “neutral” rating to a “positive” rating and raised their target price for the company from $200.00 to $250.00 in a research note on Tuesday, January 16th. Zacks Investment Research upgraded Lam Research from a “hold” rating to a “buy” rating and set a $234.00 price objective for the company in a research report on Tuesday, January 23rd. DA Davidson reiterated a “buy” rating and issued a $235.00 price objective on shares of Lam Research in a research report on Monday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Lam Research from $230.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Lam Research presently has an average rating of “Buy” and a consensus target price of $232.41.
Lam Research (NASDAQ:LRCX) last released its earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, beating analysts’ consensus estimates of $3.68 by $0.66. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The firm had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the prior year, the company posted $2.24 EPS. The company’s revenue was up 37.1% compared to the same quarter last year. sell-side analysts anticipate that Lam Research Co. will post 16.74 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 28th. Investors of record on Wednesday, March 7th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 6th. This represents a $2.00 annualized dividend and a dividend yield of 1.06%. Lam Research’s dividend payout ratio is currently 68.26%.
Lam Research announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, insider Seshasayee Varadarajan sold 25,453 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $215.00, for a total value of $5,472,395.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Patrick J. Lord sold 264 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $216.08, for a total value of $57,045.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,767 shares of company stock valued at $5,540,141. 0.41% of the stock is owned by corporate insiders.
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Lam Research 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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