Driehaus Capital Management LLC cut its position in shares of Lam Research Co. (NASDAQ:LRCX) by 58.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,999 shares of the semiconductor company’s stock after selling 2,840 shares during the period. Driehaus Capital Management LLC’s holdings in Lam Research were worth $368,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Krilogy Financial LLC raised its stake in shares of Lam Research by 91.6% during 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. raised its stake in shares of Lam Research by 144.1% during 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. Focused Wealth Management Inc purchased a new stake in shares of Lam Research during the 4th quarter worth about $140,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Lam Research during the 3rd quarter worth about $185,000. Finally, Stephens Inc. AR raised its stake in shares of Lam Research by 100.0% during the 3rd quarter. Stephens Inc. AR now owns 1,072 shares of the semiconductor company’s stock worth $198,000 after purchasing an additional 536 shares in the last quarter. 90.06% of the stock is owned by institutional investors.
In other news, insider Richard A. Gottscho sold 16,866 shares of Lam Research stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $210.02, for a total transaction of $3,542,197.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Seshasayee Varadarajan sold 25,453 shares of Lam Research stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,619 shares of company stock worth $10,790,107. Company insiders own 0.41% of the company’s stock.
A number of research firms have recently weighed in on LRCX. BidaskClub raised Lam Research from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Vetr downgraded Lam Research from a “strong-buy” rating to a “buy” rating and set a $240.39 price objective on the stock. in a research note on Monday, March 12th. FBN Securities initiated coverage on Lam Research in a research note on Thursday. They issued an “outperform” rating and a $300.00 price objective on the stock. KeyCorp reissued a “buy” rating and issued a $225.00 price objective on shares of Lam Research in a research note on Sunday, November 19th. Finally, Deutsche Bank raised their price objective on Lam Research to $250.00 and gave the company a “buy” rating in a research note on Wednesday, March 7th. Twenty-five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $242.23.
Lam Research Co. (NASDAQ:LRCX) opened at $221.92 on Friday. 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 $36,460.00, a P/E ratio of 75.74, a price-to-earnings-growth ratio of 0.90 and a beta of 1.43. Lam Research Co. has a 1 year low of $123.96 and a 1 year high of $234.88.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.68 by $0.66. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.57 billion. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The company’s revenue for the quarter was up 37.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.24 EPS. equities analysts anticipate that Lam Research Co. will post 16.74 earnings per share for the current year.
Lam Research announced that its Board of Directors has authorized a stock buyback program on Tuesday, March 6th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
The firm also recently declared 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. This represents a $2.00 annualized dividend and a yield of 0.90%. The ex-dividend date is Tuesday, March 6th. Lam Research’s dividend payout ratio is currently 68.26%.
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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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