Cornerstone Capital Management Holdings LLC. lessened its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 7.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 209,061 shares of the semiconductor company’s stock after selling 16,891 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.13% of Lam Research worth $38,479,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of LRCX. Raymond James Financial Services Advisors Inc. lifted its position in shares of Lam Research by 8.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,098 shares of the semiconductor company’s stock worth $1,499,000 after purchasing an additional 618 shares during the last quarter. Candriam Luxembourg S.C.A. raised its holdings in Lam Research by 37.5% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 14,346 shares of the semiconductor company’s stock valued at $2,655,000 after acquiring an additional 3,915 shares in the last quarter. Alps Advisors Inc. raised its holdings in Lam Research by 35.4% in the 3rd quarter. Alps Advisors Inc. now owns 8,248 shares of the semiconductor company’s stock valued at $1,526,000 after acquiring an additional 2,158 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Lam Research in the 3rd quarter valued at approximately $134,000. Finally, Sei Investments Co. raised its holdings in Lam Research by 21.6% in the 3rd quarter. Sei Investments Co. now owns 115,789 shares of the semiconductor company’s stock valued at $21,428,000 after acquiring an additional 20,588 shares in the last quarter. 90.06% of the stock is owned by institutional investors and hedge funds.
LRCX has been the subject of several recent research reports. Royal Bank of Canada upped their price target on Lam Research from $210.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, November 15th. B. Riley reaffirmed a “buy” rating and issued a $250.00 price target on shares of Lam Research in a report on Tuesday, November 14th. Deutsche Bank upped their price target on Lam Research to $230.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. KeyCorp reaffirmed a “buy” rating and issued a $225.00 price target on shares of Lam Research in a report on Sunday, November 19th. Finally, BidaskClub cut Lam Research from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Twenty-five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $239.28.
Shares of Lam Research Co. (NASDAQ LRCX) opened at $228.65 on Tuesday. Lam Research Co. has a 12 month low of $120.00 and a 12 month high of $230.00. The firm has a market capitalization of $36,656.16, a P/E ratio of 16.41, a PEG ratio of 0.90 and a beta of 1.43. The company has a quick ratio of 2.09, a current ratio of 2.47 and a debt-to-equity ratio of 0.29.
Lam Research (NASDAQ:LRCX) last released its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 EPS for the quarter, topping the Zacks’ consensus estimate of $3.68 by $0.66. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.57 billion. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. Lam Research’s revenue for the quarter was up 37.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.24 EPS. sell-side analysts predict that Lam Research Co. will post 16.74 earnings per share for the current year.
The firm also recently declared 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 of this dividend is Tuesday, March 6th. This represents a $2.00 dividend on an annualized basis and a yield of 0.87%. Lam Research’s dividend payout ratio (DPR) is presently 22.05%.
Lam Research announced that its board has approved a share buyback program on Tuesday, November 14th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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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