Advisors Asset Management Inc. grew its holdings in Lam Research Corporation (NASDAQ:LRCX) by 23.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,798 shares of the semiconductor company’s stock after purchasing an additional 8,086 shares during the quarter. Advisors Asset Management Inc.’s holdings in Lam Research Corporation were worth $7,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in LRCX. Janus Henderson Group PLC raised its stake in Lam Research Corporation by 23,238.8% during the 2nd quarter. Janus Henderson Group PLC now owns 4,742,669 shares of the semiconductor company’s stock worth $670,756,000 after buying an additional 4,722,348 shares during the period. Harbour Capital Advisors LLC raised its stake in Lam Research Corporation by 13,054.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,890,919 shares of the semiconductor company’s stock worth $13,370,000 after buying an additional 1,876,544 shares during the period. Old Mutual Global Investors UK Ltd. raised its stake in Lam Research Corporation by 1,696.5% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 878,960 shares of the semiconductor company’s stock worth $124,311,000 after buying an additional 830,034 shares during the period. GQG Partners LLC acquired a new position in Lam Research Corporation during the 2nd quarter worth approximately $87,726,000. Finally, Acadian Asset Management LLC raised its stake in Lam Research Corporation by 260.9% during the 2nd quarter. Acadian Asset Management LLC now owns 626,623 shares of the semiconductor company’s stock worth $88,624,000 after buying an additional 452,972 shares during the period. 93.05% of the stock is currently owned by institutional investors.
Shares of Lam Research Corporation (NASDAQ LRCX) traded down $2.75 during mid-day trading on Friday, hitting $210.47. The company had a trading volume of 1,907,328 shares, compared to its average volume of 2,022,367. 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 Corporation has a one year low of $97.79 and a one year high of $217.00. The stock has a market capitalization of $34,084.77, a P/E ratio of 18.13, a PEG ratio of 0.96 and a beta of 1.63.
Lam Research Corporation (NASDAQ:LRCX) last issued its quarterly earnings data on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.27 by $0.19. Lam Research Corporation had a return on equity of 30.19% and a net margin of 22.85%. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the business posted $1.81 earnings per share. The firm’s revenue was up 51.8% compared to the same quarter last year. sell-side analysts predict that Lam Research Corporation will post 14.74 earnings per share for the current fiscal year.
Lam Research Corporation announced that its board has authorized a share buyback plan on Tuesday, November 14th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 6th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, December 5th. This is an increase from Lam Research Corporation’s previous quarterly dividend of $0.45. Lam Research Corporation’s dividend payout ratio (DPR) is 16.45%.
A number of research analysts recently weighed in on LRCX shares. DA Davidson reaffirmed a “buy” rating and set a $175.00 price target on shares of Lam Research Corporation in a research note on Wednesday, July 26th. B. Riley reaffirmed a “buy” rating and set a $220.00 price target on shares of Lam Research Corporation in a research note on Thursday, July 27th. Cowen and Company reaffirmed an “outperform” rating and set a $185.00 price target (up from $150.00) on shares of Lam Research Corporation in a research note on Thursday, July 27th. Needham & Company LLC upped their price target on Lam Research Corporation from $175.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Lam Research Corporation in a research note on Thursday, July 27th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $212.89.
In other Lam Research Corporation news, COO Timothy Archer sold 15,638 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $175.65, for a total transaction of $2,746,814.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen G. Newberry sold 750 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $170.00, for a total value of $127,500.00. The disclosure for this sale can be found here. Insiders sold 49,419 shares of company stock worth $9,079,367 in the last quarter. 0.41% of the stock is currently owned by company insiders.
About Lam Research Corporation
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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