Csenge Advisory Group lowered its position in Lam Research Co. (NASDAQ:LRCX) by 12.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,085 shares of the semiconductor company’s stock after selling 292 shares during the period. Csenge Advisory Group’s holdings in Lam Research were worth $384,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sii Investments Inc. WI grew its holdings in shares of Lam Research by 6.0% in the 3rd quarter. Sii Investments Inc. WI now owns 4,654 shares of the semiconductor company’s stock worth $858,000 after acquiring an additional 262 shares during the period. Krilogy Financial LLC grew its holdings in shares of 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 acquiring an additional 263 shares during the period. Investec Asset Management PTY Ltd grew its holdings in shares of Lam Research by 3.4% in the 3rd quarter. Investec Asset Management PTY Ltd now owns 8,103 shares of the semiconductor company’s stock worth $1,475,000 after acquiring an additional 265 shares during the period. Amalgamated Bank grew its holdings in shares of Lam Research by 1.6% in the 3rd quarter. Amalgamated Bank now owns 19,460 shares of the semiconductor company’s stock worth $3,601,000 after acquiring an additional 298 shares during the period. Finally, San Francisco Sentry Investment Group CA grew its holdings in shares of Lam Research by 12.9% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 2,626 shares of the semiconductor company’s stock worth $484,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.
Lam Research Co. (NASDAQ:LRCX) opened at $217.58 on Tuesday. Lam Research Co. has a 52 week low of $123.96 and a 52 week high of $234.88. The firm has a market capitalization of $36,162.42, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The company has a current ratio of 2.47, a quick ratio of 2.09 and a debt-to-equity ratio of 0.29.
Lam Research (NASDAQ:LRCX) last issued its quarterly earnings results on Wednesday, January 24th. The semiconductor company reported $4.34 earnings per share for the quarter, topping analysts’ consensus estimates of $3.68 by $0.66. Lam Research had a return on equity of 36.08% and a net margin of 17.60%. The company had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the company posted $2.24 EPS. The business’s revenue for the quarter was up 37.1% compared to the same quarter last year. sell-side analysts expect 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. Shareholders of record on Wednesday, March 7th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Tuesday, March 6th. Lam Research’s dividend payout ratio is presently 22.05%.
Lam Research declared that its Board of Directors has authorized a stock repurchase program on Tuesday, March 6th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the semiconductor company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
A number of equities research analysts have commented on LRCX shares. BidaskClub cut Lam Research from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Susquehanna Bancshares upgraded Lam Research from a “neutral” rating to a “positive” rating and increased their target price for the company from $200.00 to $250.00 in a report on Tuesday, January 16th. Zacks Investment Research upgraded 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 reiterated 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. increased their target price on Lam Research from $230.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Twenty-five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $242.23.
In related news, insider Richard A. Gottscho sold 16,866 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $210.02, for a total value of $3,542,197.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Seshasayee Varadarajan sold 25,453 shares of the 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 disclosure for this sale can be found here. In the last three months, insiders have sold 50,619 shares of company stock worth $10,790,107. Corporate insiders own 0.41% of the company’s stock.
Lam Research 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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