QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in Lam Research Co. (NASDAQ:LRCX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,200 shares of the semiconductor company’s stock, valued at approximately $589,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Signature Estate & Investment Advisors LLC lifted its holdings in Lam Research by 15.2% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 3,986 shares of the semiconductor company’s stock valued at $738,000 after acquiring an additional 527 shares during the last quarter. Putnam FL Investment Management Co. acquired a new stake in Lam Research in the 3rd quarter valued at about $15,390,000. Epoch Investment Partners Inc. lifted its stake in Lam Research by 0.9% during the third quarter. Epoch Investment Partners Inc. now owns 64,708 shares of the semiconductor company’s stock valued at $11,974,000 after buying an additional 600 shares in the last quarter. Financial Enhancement Group LLC purchased a new stake in Lam Research during the third quarter valued at about $295,000. Finally, 361 Capital LLC lifted its stake in Lam Research by 55.6% during the second quarter. 361 Capital LLC now owns 30,606 shares of the semiconductor company’s stock valued at $4,329,000 after buying an additional 10,938 shares in the last quarter. 93.37% of the stock is owned by institutional investors.
In other news, insider Martin B. Anstice sold 21,955 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $211.16, for a total value of $4,636,017.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen G. Newberry sold 750 shares of the stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $190.00, for a total value of $142,500.00. The disclosure for this sale can be found here. Insiders sold a total of 32,769 shares of company stock worth $6,904,451 in the last quarter. 0.41% of the stock is owned by corporate insiders.
A number of analysts have commented on the stock. Argus assumed coverage on shares of Lam Research in a research note on Tuesday, September 12th. They set a “buy” rating and a $196.00 price objective for the company. Royal Bank of Canada upped their price objective on shares of Lam Research from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 18th. Stifel Nicolaus upped their price objective on shares of Lam Research from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 18th. DA Davidson reaffirmed a “buy” rating on shares of Lam Research in a research note on Wednesday, October 18th. Finally, KeyCorp reaffirmed a “buy” rating and set a $225.00 price objective (up from $202.00) on shares of Lam Research in a research note on Wednesday, October 18th. Four investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $212.99.
Lam Research Co. (NASDAQ:LRCX) opened at $196.40 on Friday. The firm has a market capitalization of $31,810.00, a PE ratio of 17.94, a PEG ratio of 0.88 and a beta of 1.57. Lam Research Co. has a twelve month low of $106.08 and a twelve month high of $219.70. The company has a quick ratio of 2.83, a current ratio of 3.31 and a debt-to-equity ratio of 0.24.
Lam Research (NASDAQ:LRCX) last issued its earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.46 billion. Lam Research had a return on equity of 30.19% and a net margin of 22.85%. The firm’s quarterly revenue was up 51.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.81 EPS. sell-side analysts forecast that Lam Research Co. will post 14.74 earnings per share for the current fiscal year.
Lam Research declared that its board has approved a share repurchase program on Tuesday, November 14th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 6th will be issued a $0.50 dividend. This is an increase from Lam Research’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.02%. Lam Research’s dividend payout ratio is currently 18.26%.
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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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