Empire Life Investments Inc. boosted its position in Lam Research Co. (NASDAQ:LRCX) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,412 shares of the semiconductor company’s stock after buying an additional 1,584 shares during the period. Lam Research makes up approximately 1.8% of Empire Life Investments Inc.’s investment portfolio, making the stock its 19th largest holding. Empire Life Investments Inc. owned 0.08% of Lam Research worth $23,637,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LRCX. Krilogy Financial LLC boosted its position in Lam Research by 91.6% in the 3rd quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 263 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Lam Research by 144.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 664 shares of the semiconductor company’s stock worth $122,000 after purchasing an additional 392 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Lam Research in the 3rd quarter worth approximately $134,000. Focused Wealth Management Inc purchased a new stake in Lam Research in the 4th quarter worth approximately $140,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in Lam Research in the 3rd quarter worth approximately $185,000. Hedge funds and other institutional investors own 90.06% of the company’s stock.
In other Lam Research news, insider Seshasayee Varadarajan sold 25,453 shares of the firm’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Sarah A. O’dowd sold 1,835 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $212.64, for a total value of $390,194.40. The disclosure for this sale can be found here. Insiders sold a total of 44,154 shares of company stock valued at $9,404,787 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.
Lam Research Co. (NASDAQ:LRCX) opened at $224.95 on Monday. Lam Research Co. has a 52 week low of $118.37 and a 52 week high of $226.08. The company has a quick ratio of 2.09, a current ratio of 2.47 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $36,656.16, a price-to-earnings ratio of 16.41, a P/E/G ratio of 0.90 and a beta of 1.43.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings data on Wednesday, January 24th. The semiconductor company reported $4.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 earned $2.24 EPS. The firm’s revenue was up 37.1% compared to the same quarter last year. equities analysts predict that Lam Research Co. will post 16.74 earnings per share for the current year.
Lam Research announced that its Board of Directors has initiated a share repurchase program on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Tuesday, March 6th. Lam Research’s dividend payout ratio (DPR) is presently 22.05%.
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About Lam Research
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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