Flinton Capital Management LLC raised its stake in Lam Research Co. (NASDAQ:LRCX) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,696 shares of the semiconductor company’s stock after acquiring an additional 3,780 shares during the quarter. Flinton Capital Management LLC’s holdings in Lam Research were worth $10,988,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Krilogy Financial LLC increased its holdings in shares of Lam Research by 91.6% during the third quarter. Krilogy Financial LLC now owns 550 shares of the semiconductor company’s stock worth $102,000 after purchasing an additional 263 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Lam Research by 144.1% during the fourth 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 during the period. Focused Wealth Management Inc bought a new position in shares of Lam Research during the fourth quarter worth approximately $140,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Lam Research during the third quarter worth approximately $185,000. Finally, Stephens Inc. AR increased its holdings in shares of Lam Research by 100.0% during the third quarter. Stephens Inc. AR now owns 1,072 shares of the semiconductor company’s stock worth $198,000 after purchasing an additional 536 shares during the period. 90.06% of the stock is currently owned by hedge funds and other institutional investors.
In other Lam Research news, insider Seshasayee Varadarajan sold 25,453 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $215.00, for a total value of $5,472,395.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Sarah A. O’dowd sold 1,835 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $212.64, for a total transaction of $390,194.40. The disclosure for this sale can be found here. Insiders sold 50,619 shares of company stock worth $10,790,107 in the last 90 days. Company insiders own 0.41% of the company’s stock.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.68 by $0.66. Lam Research had a net margin of 17.60% and a return on equity of 36.08%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the business posted $2.24 EPS. The firm’s revenue for the quarter was up 37.1% on a year-over-year basis. analysts forecast that Lam Research Co. will post 16.74 earnings per share for the current fiscal year.
Lam Research announced that its Board of Directors has authorized a share repurchase plan on Tuesday, November 14th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is 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 given a $0.50 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $2.00 dividend on an annualized basis and a yield of 0.89%. Lam Research’s dividend payout ratio is currently 22.05%.
Several research analysts have recently commented on LRCX shares. BidaskClub cut shares of Lam Research from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Susquehanna Bancshares raised shares of Lam Research from a “neutral” rating to a “positive” rating and raised their target price for the stock from $200.00 to $250.00 in a report on Tuesday, January 16th. Zacks Investment Research raised shares of Lam Research from a “hold” rating to a “buy” rating and set a $234.00 target price on the stock in a report on Tuesday, January 23rd. DA Davidson reaffirmed a “buy” rating and set a $235.00 target price on shares of Lam Research in a report on Monday, January 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Lam Research from $230.00 to $260.00 and gave the stock an “overweight” rating in a report on Thursday, January 25th. Twenty-five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $239.28.
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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