L & S Advisors Inc cut its holdings in shares of Lam Research Co. (NASDAQ:LRCX) by 73.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,220 shares of the semiconductor company’s stock after selling 28,800 shares during the period. L & S Advisors Inc’s holdings in Lam Research were worth $1,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of LRCX. Odey Holdings AG increased its holdings in Lam Research by 9.9% in the second quarter. Odey Holdings AG now owns 810 shares of the semiconductor company’s stock valued at $115,000 after buying an additional 73 shares in the last quarter. BDO Wealth Advisors LLC purchased a new position in Lam Research in the second quarter valued at $118,000. Bollard Group LLC purchased a new position in Lam Research in the third quarter valued at $130,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Lam Research in the second quarter valued at $134,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Lam Research in the third quarter valued at $134,000. Institutional investors own 93.80% of the company’s stock.
Lam Research Co. (NASDAQ LRCX) opened at $184.23 on Thursday. The firm has a market cap of $29,236.15, a PE ratio of 15.55, a P/E/G ratio of 0.82 and a beta of 1.57. Lam Research Co. has a 52-week low of $102.69 and a 52-week high of $219.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.83 and a current ratio of 3.31.
Lam Research (NASDAQ:LRCX) last posted its quarterly earnings results on Tuesday, October 17th. The semiconductor company reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. Lam Research had a net margin of 22.85% and a return on equity of 30.19%. Lam Research’s quarterly revenue was up 51.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.81 earnings per share. analysts anticipate that Lam Research Co. will post 14.74 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 6th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 5th. This is a positive change from Lam Research’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 1.09%. Lam Research’s payout ratio is presently 18.28%.
Lam Research declared that its board has authorized a stock repurchase plan on Tuesday, November 14th 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. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
A number of research analysts have weighed in on LRCX shares. B. Riley reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Lam Research in a report on Thursday, August 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $176.00 price objective on shares of Lam Research in a report on Monday, August 14th. Credit Suisse Group reissued a “buy” rating on shares of Lam Research in a research note on Tuesday, August 29th. ValuEngine cut shares of Lam Research from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $200.00 target price on shares of Lam Research in a research note on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $212.89.
In related news, VP Patrick J. Lord sold 264 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $216.08, for a total transaction of $57,045.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Martin B. Anstice sold 21,955 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $211.16, for a total transaction of $4,636,017.80. The disclosure for this sale can be found here. Insiders have sold 71,688 shares of company stock worth $13,783,130 over the last 90 days. 0.41% of the stock is currently owned by company insiders.
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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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