First Republic Investment Management Inc. reduced its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,869 shares of the semiconductor company’s stock after selling 2,345 shares during the period. First Republic Investment Management Inc. owned 0.06% of Lam Research worth $19,405,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Odey Holdings AG raised its stake in Lam Research by 9.9% during the 2nd quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 73 shares during the period. BDO Wealth Advisors LLC bought a new stake in Lam Research in the 2nd quarter worth approximately $118,000. Bollard Group LLC bought a new stake in Lam Research in the 3rd quarter worth approximately $130,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Lam Research in the 2nd quarter worth approximately $134,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Lam Research in the 3rd quarter worth approximately $134,000. 93.80% of the stock is currently owned by hedge funds and other institutional investors.
In other Lam Research news, VP Patrick J. Lord sold 264 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $216.08, for a total value of $57,045.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Martin B. Anstice sold 21,955 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $211.16, for a total value of $4,636,017.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,688 shares of company stock valued at $13,783,130. 0.41% of the stock is owned by company insiders.
LRCX has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price objective (up previously from $200.00) on shares of Lam Research in a research note on Friday, October 13th. KeyCorp reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Lam Research in a research note on Sunday, November 19th. BidaskClub downgraded Lam Research from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. B. Riley reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Lam Research in a research note on Tuesday, November 14th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Lam Research in a research note on Thursday, October 19th. Four analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Lam Research has a consensus rating of “Buy” and an average price target of $212.99.
Lam Research Co. (NASDAQ:LRCX) opened at $189.16 on Friday. Lam Research Co. has a 1-year low of $103.01 and a 1-year high of $219.70. The company has a current ratio of 3.31, a quick ratio of 2.83 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $30,710.00, a price-to-earnings ratio of 15.55, a P/E/G ratio of 0.82 and a beta of 1.57.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.27 by $0.19. Lam Research had a return on equity of 30.19% and a net margin of 22.85%. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the business earned $1.81 EPS. Lam Research’s revenue was up 51.8% compared to the same quarter last year. equities analysts expect that Lam Research Co. will post 14.74 earnings per share for the current year.
Lam Research announced that its Board of Directors has authorized a stock buyback program on Tuesday, November 14th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 6th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a yield of 1.06%. This is a boost from Lam Research’s previous quarterly dividend of $0.45. Lam Research’s payout ratio is presently 18.26%.
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Lam Research 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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