E&G Advisors LP grew its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 101.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,250 shares of the semiconductor company’s stock after buying an additional 3,150 shares during the quarter. E&G Advisors LP’s holdings in Lam Research were worth $1,150,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of LRCX. Signature Estate & Investment Advisors LLC lifted its holdings in shares of Lam Research by 15.2% during the third quarter. Signature Estate & Investment Advisors LLC now owns 3,986 shares of the semiconductor company’s stock worth $738,000 after purchasing an additional 527 shares during the period. Putnam FL Investment Management Co. acquired a new position in shares of Lam Research during the third quarter worth $15,390,000. Epoch Investment Partners Inc. lifted its holdings in shares of Lam Research by 0.9% during the third quarter. Epoch Investment Partners Inc. now owns 64,708 shares of the semiconductor company’s stock worth $11,974,000 after purchasing an additional 600 shares during the period. Financial Enhancement Group LLC acquired a new position in shares of Lam Research during the third quarter worth $295,000. Finally, 361 Capital LLC lifted its holdings in shares of Lam Research by 55.6% during the second quarter. 361 Capital LLC now owns 30,606 shares of the semiconductor company’s stock worth $4,329,000 after purchasing an additional 10,938 shares during the period. 93.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lam Research Co. (NASDAQ LRCX) traded up $1.88 during midday trading on Tuesday, hitting $190.39. 4,250,000 shares of the stock traded hands, compared to its average volume of 3,000,000. Lam Research Co. has a 52-week low of $108.46 and a 52-week high of $219.70. The firm has a market capitalization of $30,830.00, a price-to-earnings ratio of 17.39, a P/E/G ratio of 0.86 and a beta of 1.57. 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 announced its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.19. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same quarter in the prior year, the business earned $1.81 earnings per share. The business’s quarterly revenue was up 51.8% compared to the same quarter last year. sell-side analysts forecast that Lam Research Co. will post 14.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 6th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 5th. This represents a $2.00 annualized dividend and a dividend yield of 1.05%. This is a positive change from Lam Research’s previous quarterly dividend of $0.45. Lam Research’s dividend payout ratio is currently 18.26%.
Lam Research announced that its board has approved a stock repurchase program on Tuesday, November 14th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
A number of brokerages have recently commented on LRCX. KeyCorp reiterated a “buy” rating and set a $225.00 price target on shares of Lam Research in a report on Sunday, November 19th. B. Riley reiterated a “buy” rating and set a $250.00 price target on shares of Lam Research in a report on Tuesday, November 14th. Royal Bank of Canada lifted their price target on shares of Lam Research from $210.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, November 15th. Deutsche Bank boosted their target price on shares of Lam Research to $230.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. Finally, Needham & Company LLC boosted their target price on shares of Lam Research from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Two analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $220.65.
In other news, VP Patrick J. Lord sold 264 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $216.08, for a total transaction of $57,045.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael R. Cannon sold 9,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $212.43, for a total transaction of $1,911,870.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,269 shares of company stock valued at $6,615,633. 0.41% of the stock is currently owned by insiders.
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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